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pmac2
New Member

My sons University group won $4000 each in Queens Univ competition. T4A has $4000 in box 48. Turbotx show error, thinks he has a business, T2125, can I put 4K in bx 105?

 
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My sons University group won $4000 each in Queens Univ competition. T4A has $4000 in box 48. Turbotx show error, thinks he has a business, T2125, can I put 4K in bx 105?

The Canada Revenue Agency (CRA) considers any amount in box 48 on the T4A slip to be self-employment or business income. So, you will need to fill out the Self-Employment section in TurboTax. You only need to enter basic information, and you can use your own information for your name and address. You can get your Industry Code at this Statistics Canada website: North American Industry Classification System (NAICS) Canada 2022 Version 1.0

 

Alternatively, if you think a mistake has been made, you can contact the organization you work for to double-check if your slip is correct.