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How do I deduct costs to pay contractors for self-employment?

I'm a self employed individual (no company) that has to regularly hire artists as contractors to produce material that I use in what I produce and sell, as well as printing costs. I need to be able to write off my costs for these contractors. Last year, while I was filling in my self-employed business income, I was given options for putting these costs in. This year, I can't find any such information. Where should I be filing these things in? My industry code, if it helps, is 511120.
1 Best answer

Accepted Solutions

How do I deduct costs to pay contractors for self-employment?

The spot to enter subcontractors' costs can be located in the Valuing Inventory section of the T2125. This screen is found directly after the Business Income section. Enter your subcontractor costs on the line marked "Subcontracts : Enter all the costs of hiring outside help to perform work related to the goods you sell."


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14 Replies

How do I deduct costs to pay contractors for self-employment?

The spot to enter subcontractors' costs can be located in the Valuing Inventory section of the T2125. This screen is found directly after the Business Income section. Enter your subcontractor costs on the line marked "Subcontracts : Enter all the costs of hiring outside help to perform work related to the goods you sell."


bassemomary
Returning Member

How do I deduct costs to pay contractors for self-employment?

Can not find it, please clarify. 

How do I deduct costs to pay contractors for self-employment?

@bassemomary Are you using TurboTax CD/Download or TurboTax Online?

How do I deduct costs to pay contractors for self-employment?

I also have the same question! I am using Turbo Tax Online.

How do I deduct costs to pay contractors for self-employment?

In TurboTax Online, you can enter subcontractor expenses in the Inventory section, just after Income.

 

Canadork
New Member

How do I deduct costs to pay contractors for self-employment?

Sub contractor does not come up as an option for me under work expenses

 

Income Expenses List.png

How do I deduct costs to pay contractors for self-employment?

@Canadork It's not under expenses. You can enter subcontractor expenses in the Inventory section, just after Income.

How do I deduct costs to pay contractors for self-employment?

@TurboTaxSusan - there is no "Inventory" option after the "Income" section

 

Screenshot 2023-04-29 at 12.28.36.png

How do I deduct costs to pay contractors for self-employment?

@CandianTaxpayer

You have to go to the Self-Employment section, then go into your business (or create one) to see the Inventory part of the Self-Employment section.