user17731785315
Returning Member

Claiming executor fees

I received executor fees in 2025 and have a T4 with the amount in box 48.  How do I claim this on my 2025 Canadian taxes?

Troubleshooting

Executor fees reported in Box 48 of a T4A slip (or sometimes a T4) are considered self-employment income by the Canada Revenue Agency (CRA). Because no taxes are typically withheld at source, you are responsible for reporting this as business income and paying the appropriate tax.

 

  • The amount in Box 48 must be reported on Form T2125.
  • In your tax software, look for "Self-employment income" or "Business Activities" and select Form T2125.
  • Enter the box 48 amount as your gross income.

Thank you for choosing TurboTax.

user17731785315
Returning Member

Troubleshooting

Thank you for your suggestion.  It helped me get further along but then I got stuck.  What industry code should I use?  I claimed as professional but cannot find industry codes.

Troubleshooting

You can look up your industry code on the Stats Can website: North American Industry Classification System (NAICS) Canada 2022 Version 1.0 Or you can use the search tools on the NAICS website: NAICS & SIC Identification Tools It doesn't have to be exactly what you do, it just has to be close.