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posted Oct 6, 2020 7:02:32 PM

Self Employment Business Expenses when I review Motor Vehicle Expenses the system placed them in line 9943 net partnership instead of line 9281 what did I do wrong?

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1 Replies
Level 15
Oct 9, 2020 6:37:42 AM

If you are a partner in a business partnership and you incur motor vehicle expenses for the business through the use of your personal vehicle, you can claim those expenses related to the business on "Line 9943 – Other amounts deductible from your share of net partnership income (loss)" by filling in Part 5 of Form T2125, T2042 or T2121.

 

Line 9281 is for the types of expenses you can claim on "Line 9281 – Motor vehicle expenses (not including CCA)" of form T2125 or form T2121, or line 9819 of Form T2042 include:

  • license and registration fees
  • fuel and oil costs
  • insurance
  • interest on money borrowed to buy a motor vehicle
  • maintenance and repairs
  • leasing costs

If you entered your information as being in a partnership and you are not, you will need to go back to the "Income" section of your return and scroll down to self-employment- from there you will verify the pages where you entered your information and you will be able to edit- if you answered that you were in a business partnership.