If you are required to submit a T5013, report data on the partnership as a whole, and it also has brief sections to report each partner’s share of revenue and expenses. However, this form does not serve as your tax return.
As an individual, you must report your partnership income on your personal income tax return. Use Form T2125 – Statement of Business or Professional Activities to outline your revenue and expenses, and then transfer numbers to your income tax return as prompted. When filling out this form, only include your portion of the partnership’s revenues and expenses.
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