SB98
Level 1

T1 vs T2

I need to file T1 form, but at the same time I need to file T2 form cause I have a corporation, so what should I put information in T1 form? Employed, not Employed,.....?

Self-employed

It would be best to contact the Canada Revenue Agency for the clarification on your specific situation.

Self-employed

@SB98 You would answer based on however you are paid by your corporation. If it pays you a salary and issues you a t-slip, then you are employed. If you get dividends then you are not employed.

SB98
Level 1

Self-employed

Thanks. I get dividends. My confusion is how to fill out the T1. It asks if I worked in 2023. I assume I say yes even though I am not considered an emloyee. So Do do I say yes and leave everything else blank?

Self-employed

Sure, if you would like. 

 

TurboTax is asking you if you worked because it needs to know what pages to show you ex: T4, T4A, Employment Expenses, etc.. If you would like to answer Yes, that's fine. It won't change anything on your return unless you check something off.

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SB98
Level 1

Self-employed

Understood. Thank you.