I know where the T4A section is in Income, but when I enter the T4A there, it doesn't link it to the self employed section to be connected to the business and its expenses.
You need to enter the income on the T4A slip page. Then TurboTax will automatically create a business page for that T4A. If you have another business page filled out already, then just put the basic info on the T4A business page. The income and expenses from the two businesses will be combined into one net self-employment figure.
Do I really need to upgrade and pay $120.00 if I have a T4A?
If you receive a T4A with amounts reported in Box 20 or Box 48, it means that you have earned self-employment income. Therefore, you will be considered self-employed for tax purposes. If this is the case, you will need to upgrade to the self-employed version of TurboTax to accurately report your income and expenses.
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My son who is a student, received a T4A for work at a summer job. When entering the T4A on his behalf, Turbo Tax prompts me to enter business information. He is a student and does not have a business. How should I proceed with entering the T4A?
You will need to enter his name as business name and home address as business address. You won't need to complete anything else on that page.
If the T4(A) has one of the following boxes 28 or 48 with an amount in it CRA automatically considers them to be self-employed.
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There is only one box with info- box 48.
Will this calculate taxes owed and be included in his return or is there another form to be filled out?
If he received a T4(A) with an amount in box 48- then you will only enter that amount on that slip. It will then automatically have you go to the T2125 self-employed section.
Upon filling out the T2125, it is asking for information that we do not have to be able to complete the form. Example: GST number, business number. There are no expenses.
Do you have any advice for how to complete this step when there is no GST #. Etc, that people who own a business have?
I am at a loss for how to proceed and get the taxes filed, as Turbo tax gives me errors when trying to file that are related to the missing info.
If you have a small business and do not have a business number or GS/HST number then you will enter your business name and if you work from home you will enter your home address as business address.
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My T4A details won't populate to my self employment income. Why is this happening?
@ezgi Please go to the Self-Employment Summary page and check if it is going onto another business. If it is, you can just fill in the basic info into the T4A slip one, if you have already entered information into the one you are looking at right now.
Enter your gross commission income on line 13899 and your net commission income on line 13900 of your return.
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