My wife is part of the EI for self-employed individuals program and has been contributing the max premium every year. Which is added in her taxes when filed. This is our first time with TurboTax and nowhere does the amount show up or calculate in the final copy of the tax form. The max payable should be $836.19. Can we just add this amount in a box somewhere?
The amount cannot be "added" manually to the tax return. You will need to complete your information and then the amount will appear on the Detailed Tax Summary. It is included with any CPP Contributions you pay on your Self Employed income on the line titled - CPP, EI & Social Benefits Repayment.
You can find the screen in which you must say "Yes" to in order for the amount to be calculated in the EasyStep view of TurboTax CD/Download by going to Income and clicking on EI Premiums on Self Employment Income.
I answered yes but the following questions dont apply. It asks if i own 40% of shares and what is the salary of the employer. Confused. We always entered income as self employment but this year our contractor gaves us T4A slips. And now it doesnt work.
I understand how this can be confusing. I've created a similar scenario and have no issues with getting this to work. Can you confirm that the income from the T4A is carrying over to the Business Statement (T2125)? And which box of the T4A has the self employment income been reported in? It should be Box 20 or 48.
My wife also has income of $2070 reported in the T2125 in addition to the T4A and that seems to override any EI premium calculations the T4A would have calculated. Anyways we entered all income under the T2125 like we always did with our accountant in previous years and EI and other tax owing calculates fine. Some glitch.