I've entered my T4 for self employed income and now I have to enter self employed income again - why?

[liffyah]

Hello, 

I've been both self employed and an employee of another business this past tax year (2021). I've had the T4 for my business prepared by a tax professional and I've added both of my T4s in to the T's section. Later on, the software requires me to enter self employment/business information which I've done but in doing so, it double counts my self employment income. Can I please have some guidance on whether I need to enter all the self employment income or maybe where I've gone wrong?

[_krups_2938]

As per our TurboTax article: The Beginner’s Guide to Self-Employed Taxes: When you’re an employee, you get a T4 slip from your employer, and taxes are deducted from each paycheck. When you’re self-employed there’s no employer to deduct taxes from your pay, so you make your own estimated tax payments each quarter and can deduct business expenses related to your work.

Self-employment income does not go on a T4 slip. If your self-employment is already included in your T4, this does not allow for self-employment expenses to be declared as that income will not be declared in the self-employment income section as it would be declared twice. 

For more information please see our TurboTax article You May Have Business Income and Not Even Know It!

Thank you for choosing TurboTax.