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Typoortax
Returning Member

Expenses with 2 employers + self-employed(artist)

I have the downloaded version of shine and Business and would like to know how/if TT handles this scenario in the software.  My wife was employed by two separate employers with T2200 provided.  In addition to this, she sold a painting this year and has expenses related to that.  After having input all expenses in full in the appropriate an areas, is TT automatically calculating the % of the useable expense for each? And further, are the expenses permitted across all incomes, as long as they are portioned?

 

Thank you for any insight, I just don’t want to make any very obvious mistakes.

 

 

2 Replies

Expenses with 2 employers + self-employed(artist)

Yes, TurboTax Desktop allows you to enter two T777 forms for employment expenses, as well as the T2125 for self-employment income. Generally, you can just put in your amounts and the software will do all the calculations, but if your wife uses the same space for her self-employment work as her employment work, you may need to do some calculations of your own to figure out how much you can claim for the self-employment expenses.

 

Tybotax
Returning Member

Expenses with 2 employers + self-employed(artist)

Thank you for the reply, I did end up going with the Assist and Review feature just to be sure.  I was told however, the expenses should only be claimed on one(1) of the employer incomes as they were the full amounts and not divided automatically between. So the software was allowing two identical deductions.  Then the self employed wizard helped me through that section.  Thank you for your reply!  I have a little more confidence going forward now as long as you agree with all that 🙂