Canadian Investment & Retirement Roadmap

Question 01/10

Your brokerage issues a T5008 slip for a stock you sold. Box 20 (Cost or Book Value) shows $5,000, but your own tracked calculations (including commissions and adjustments) show the ACB is actually $4,000. Which value should you use on your tax return?

Always use the $5,000 shown on the T5008 because that’s what the CRA has on file. Use the $4,000 from your own records, as long as you can back it up with documentation. Split the difference ($4,500) to avoid an audit. Use $5,000 now, and file an amendment later if the CRA asks.