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I am a performer, how/where can I reflect the money invested into training?
a week ago
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Self-employed
As per the CRA:
If you are a self-employed performer (actor, dancer, or musician) acting as a business owner and receive income via T4A or cash/check, you will enter this in the "Self-Employment" section of TurboTax.
- Go to Income-> Business Income and Expenses > T2125 - Statement of Business or Professional Activities. then under "Management and administration fees" or "Other expenses" on Form T2125.
- The training must be for maintaining or upgrading your existing skills, not for learning an entirely new profession.
2. If You Are an Employee (Salaried)
If you are an employee who received a T4 and have an employer-signed T2200 form stating that you must pay your own training expenses.
Enter it under Employment > Employment Expenses > T777 - Statement of Employment Expenses. Enter the training costs under "Other Expenses" on form T777.
What are Canada Training Credits, and how do I enter them in TurboTax?
Thank you for choosing TurboTax.
Tuesday