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New Member
posted Mar 30, 2021 10:59:39 AM

I am self employed and not sure how to show how much income I have earned.

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1 Replies
Level 3
Mar 31, 2021 5:48:42 PM

Hello,

 

In order to report your self-employed income from one or other sources, you can enter your gross income and net income on line 13500 and 14300 of the income tax and benefit return. Additionally, you can use the 

T2125 Statement of Business or Professional Activities

 

to compute those amounts.

 

If you have more than one business activity, you have to complete a separate T2125 for each activity. You can also check out the TurboTax blog about 

Small Business Tax Tips: Filing a T2125