Solved: Do I need to calculate tax owing on 3 months of se...

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Do I need to calculate tax owing on 3 months of self employment income or can I enter the total amount and Turbo Tax calculates that for me?

I retired in September 2017 and had 3 months of self employment income.  I am not a company. I entered the total amount I made in the self employment questionnaire but did not see where I would calculate what my taxes owing on that amount would be or where I calculate CPP owing on that amount. 

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Moderator

Do I need to calculate tax owing on 3 months of self employment income or can I enter the total amount and Turbo Tax calculates that for me?

Both the tax owing and the CPP contributions due are calculated by TurboTax based on your entries in the self-employment/business section. To view the exact amounts, refer to the form T2125 in the Forms view or the PDF copy of your return.

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Highlighted
Moderator

Do I need to calculate tax owing on 3 months of self employment income or can I enter the total amount and Turbo Tax calculates that for me?

Both the tax owing and the CPP contributions due are calculated by TurboTax based on your entries in the self-employment/business section. To view the exact amounts, refer to the form T2125 in the Forms view or the PDF copy of your return.

View solution in original post

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