This is a related question. I entered T4A info in the T slips section in an appropriate T4A column. I have two values to enter .... a 1 in box 015 and a $ amount in box 048, labelled as Fees for services. The $ amount I entered is not linked to anything anywhere. It is not showing up on any business or professional form or the Bussiness Summary form where it all should be aggregated. The total is greater than $30,000 so it is not insignificant and should be somewhere. My question is where is it? Also, why enter it in a T4A slip column it I then have to enter it elsewhere to get it into the form calculations. Is this a TT 2024 glitch?
@tfrin2024 When you received a T4A with an amount on box 48, you have to indicate the source of this income. This way, the software will report the amount on the appropriate T2125.
It's important to choose carefully, because income and expenses in category B, p or C will be presented differently.
T2125B is for a company where you buy, manufacture and sell merchandise/service
T2125P is for a business providing professional services (teaching, accounting, consulting, etc.).
T2125C is for a commission-only business.
Thank you for choosing TurboTax.
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