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pikatwo
New Member

If I have a T4A as an independent Contractor, do I report the income in the T4A slip section or the "self-employment or business summary" section? or both?

I'm a bit confused because I put my T4A slip in the T4A spot but then later was asked if I had any self-employment income to report.. which is my T4A slip. (I also have a bit of foreign income which I reported in the foreign tab that is also self-employment)

So, I put both pieces if income in their tabs.. and then it asked me about self-employment.. I put them in again and it increased how much i "owe". I feel like that maybe I'm not supposed to do that! 

Can I just report the income in the T4A and Foreign spot and say "no" to me needing to report any self-employment income? But can I still claim any deductions that way? Or will I just have to report everything in the self-employment part and take it off the T4A tab and Foreign tab.

I really hope this makes sense!
1 Reply

If I have a T4A as an independent Contractor, do I report the income in the T4A slip section or the "self-employment or business summary" section? or both?

Having a T4A with Box 20 or 48 means that you’re required to complete a bit of extra info at tax time. Since you’re self-employed, you’ll complete the business form T2125 – Statement of Business Activities. The upside is you can also claim expenses to offset that income on that form.

 

Here is a great TurboTax article to help you: Guidelines for Reporting Self-Employment Income

 

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