Why sign in to the Community?

  • Submit a question
  • Check your notifications
Sign in to the Community or Sign in to TurboTax and start working on your taxes
New Member
posted Oct 29, 2019 11:50:56 PM

Can I expense a portion of the box 40 benefit for the business and if so, what percentage would you use?

2 jobs avg 80 hours per week 1. Commission based income with deductions. 2. Self employed sole proprietor business. I Receive a Box 40 Taxable Benefit for gasoline for the commissioned work.

0 1 511
1 Best answer
New Member
Oct 29, 2019 11:50:57 PM

It depends on what kind of a slip you receive. I'm assuming that you have a T4 for the commission income, and box 40 splits out the taxable allowance.  If this is the case, you may be able to deduct employment expenses, assuming your employer signs a T2200 authorizing the expenses. 

The self employment income is entered into a T2125 where you can report the income and the expenses.  Answer the question regarding self-employment to bring up the entry page.

1 Replies
New Member
Oct 29, 2019 11:50:57 PM

It depends on what kind of a slip you receive. I'm assuming that you have a T4 for the commission income, and box 40 splits out the taxable allowance.  If this is the case, you may be able to deduct employment expenses, assuming your employer signs a T2200 authorizing the expenses. 

The self employment income is entered into a T2125 where you can report the income and the expenses.  Answer the question regarding self-employment to bring up the entry page.