Why sign in to the Community?

  • Submit a question
  • Check your notifications
Sign in to the Community or Sign in to TurboTax and start working on your taxes
New Member
posted Oct 30, 2019 2:37:04 PM

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. 

0 1 691
1 Best answer
Level 11
Oct 30, 2019 2:37:05 PM

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.

1 Replies
Level 11
Oct 30, 2019 2:37:05 PM

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.