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Do I have to register the business if there was an amount reported on box 048 of the T4A? What about expenses?

 
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Do I have to register the business if there was an amount reported on box 048 of the T4A? What about expenses?

No, you don't have to register your business.

 

If you enter a T4A with self-employment income on it, TurboTax will automatically create a T2125 with the amount on it. You can then fill in the other information needed, like expenses.

 

You only need to fill out the basics, and you can use your own name, address, etc… The only thing you might not know is what your industry code is, which you can look for here: https://www.statcan.gc.ca/eng/subjects/standard/naics/2017/v3/index

 

We have a video on YouTube that goes through preparing a Self-Employed return: https://www.youtube.com/watch?v=NzszSEVEv-U