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StusekTurner
Returning Member

CPP Contributions for Self-Employed

My wife is self-employed, and did not pay CPP or EI premiums; how can I amend her info in Turbotax so she doesn't receive them as deductions? Or are the contributions built into her instalment payments? If so, how do I know how much she paid? 

 

Thanks, 

 

Marcus

2 Replies
TurboTaxHeba
Intuit Alumni

CPP Contributions for Self-Employed

For self-employment business:

  • EI contribution is optional > your spouse doesn't have to calculate nor report unless she wants to pay for EI maternity in case she needs it in the future. Once she enters the program, she will not be able to leave it. 
  • CPP is calculated automatically by the software > the software calculates the amount of CPP contribution your spouse should contribute (double the amount the regular employee pays), adds it to the income, then deduct the allowable amount (usually half) as a self-employed taxpayer. When CRA receives the return, CRA will apply the CPP contribution to her account. > so again you don't have to do any extra calculations manually

I hope this was helpful 

StusekTurner
Returning Member

CPP Contributions for Self-Employed

Thank you for the reply, 

 

So, just to confirm, if my wife hasn't paid into the CPP this year, turbo tax adjusts everything to account for that? And the deduction/credit we see is the employer contribution part of the CPP payment that she owes? I'm not seeing a line item in the income to correlate with the deduction or contribution amount. I see one labeled "Other amount", which I can't track back to a source, so I think this might be the CPP contribution you mention. It just doesn't match exactly with either of the credits/deductions in the return summary, which is what causes me concern. 

 

Thanks you so much for the info, I really appreciate the help.