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    lornetw
    New Member

    Does "Other Employment Income Sources" include business income

     
    posted
    ‎October 31, 2019 4:37 AM
    last updated ‎October 31, 2019 4:37 AM
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    Accepted Solutions
    TurboTaxKim
    Level 15

    Does "Other Employment Income Sources" include business income

    No, business income must be reported on a T2125 - Statement of Business Activities in the Self-Employed section of TurboTax.

    If you earn income that is under $3,500 from odd jobs or such, CRA considers this to be "Other Employment Income". Anything over $3,500 must be reported as Self-Employed income as you are required to make CPP contributions on it.

    View solution in original post

    ‎October 31, 2019 4:37 AM
    1,165
    Reply
    1 Reply
    TurboTaxKim
    Level 15

    Does "Other Employment Income Sources" include business income

    No, business income must be reported on a T2125 - Statement of Business Activities in the Self-Employed section of TurboTax.

    If you earn income that is under $3,500 from odd jobs or such, CRA considers this to be "Other Employment Income". Anything over $3,500 must be reported as Self-Employed income as you are required to make CPP contributions on it.

    ‎October 31, 2019 4:37 AM
    1,166
    Reply

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