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posted Feb 21, 2020 8:25:23 AM

Self Employed Line 135

I do a little IT work on the side for a friend that owns an IT company.  Last year I filed this under Other Income but I got a letter from CRA and when I called them they told me that I should enter the income as self employment income under line 135.  I cannot see line 135 anywhere.  When I try to do self employed income it asks for a company name and address etc.  I don't have a company name or anything so not sure how to enter it.

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1 Replies
Level 15
Feb 21, 2020 5:38:50 PM

When you have income that exceeds $3,500 gross, CRA considers this to be Self-Employed earnings and requires you to report it on the T2125 - Statement of Business Activities. By reporting it here, TurboTax will calculate any CPP Contributions you must pay on those earnings, and post the Net amount to Line 13500 of the T1 General Tax Return.

 

To complete this form, you will need to enter the province of self-employment, your business address, your industry code. For the name of the business, you can simply use your own name. 

 

Be sure to enter any expenses you may have incurred earning this income on the T2125 as well. Here's some information from CRA on eligible Business Deductions.