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.
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