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New Member
posted Jan 13, 2021 5:46:25 PM

I did a small amount of consulting for a month or so in 2020. Where is the best place to report this income?

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3 Replies
Intuit Alumni
Feb 10, 2021 11:27:53 AM

If your income is below $3500, claim them as other income:

  • On the top bar, click on the magnifying glass to open the search window
  • type "income not reported on a T-slip"
  • Select occasional earning (the first choice) on the Employment Status Page
  • On the "Other Employment Income Sources", specify the type of income and the amount

If your income is more than $3500, you will need to report it on the T2125 business sheet:

  • Search for "self-employed" in the search engine on the top bar
  • Choose the type of business income you are reporting 
  • Then fill in the necessary information on the business statement page
  • You will be able to claim expenses against this income

For more information on how to fill your T2125 business sheet, check this link:

https://turbotax.intuit.ca/tips/t2125-tax-form-declare-income-and-expenses-from-a-business-or-profession-394

 

I hope this was helpful

New Member
Feb 10, 2021 9:00:47 PM

Thank you. Great help!

Intuit Alumni
Feb 11, 2021 1:09:32 PM

Glad I was able to help you.

Good luck.