TurboTaxTatsiana1
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Self-employed

Here is what can help you to sort it through:

1) Box 118 (Gross business income)

Any amount showing in Box 118 for a Limited partner should not be entered.

The instruction to report the amount on line 162 is incorrect.

 

Box 118 applies only to a General partner (code 2 in Box 002, Partner code).

Moreover, according to the CRA Certification specifications, when Box 118 is present, Box 116 must also be present along with a NAICS Industry code.

 

The confusion arises from the changes made in the new T5013 slip.

There used to be a general purpose Box 34 (Partnership's total gross income) that was used for Limited partners. That box has been eliminated.

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