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posted Oct 31, 2019 4:37:52 AM

Does "Other Employment Income Sources" include business income

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1 Best answer
Level 15
Oct 31, 2019 4:37:55 AM

No, business income must be reported on a T2125 - Statement of Business Activities in the Self-Employed section of TurboTax.

If you earn income that is under $3,500 from odd jobs or such, CRA considers this to be "Other Employment Income". Anything over $3,500 must be reported as Self-Employed income as you are required to make CPP contributions on it.

1 Replies
Level 15
Oct 31, 2019 4:37:55 AM

No, business income must be reported on a T2125 - Statement of Business Activities in the Self-Employed section of TurboTax.

If you earn income that is under $3,500 from odd jobs or such, CRA considers this to be "Other Employment Income". Anything over $3,500 must be reported as Self-Employed income as you are required to make CPP contributions on it.