Open TurboTax

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Find CRA error Netfile information >> HERE!

in discounts allowances and returns. do i count the money lost to the discount or the amount purchased with use of a discount?

 
1 Reply
CharlesL6
Returning Member

in discounts allowances and returns. do i count the money lost to the discount or the amount purchased with use of a discount?

Hello!

On your T2125, in the income section (Part 3A, Line 3B), you put the discounts and allowances offered to your clients if it's included in Line 3A("the money lost to the discount");

In the expense section(Part 3D, Line 8320), you put your purchases during the year net of returns, allowances and discounts ("the discount you received")

 

Unlock tailored help options in your account.