Open TurboTax

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

cancel
Showing results for 
Search instead for 
Did you mean: 
wcarlso1
New Member

T2042 For Partnership. Do I need to complete it 2 times?

 
2 Replies

T2042 For Partnership. Do I need to complete it 2 times?

You can also open the schedule in forms and under the "edit" function - "Forms", "copy/transfer form" and create the second schedule. Returns must be jointly prepared and co-ownership details provided.

T2042 For Partnership. Do I need to complete it 2 times?

You should create only one T2042 "Statement of Farming Activities", indicate your share of the business and then in the Co-owners details indicate the share of spouse if applicable. This will then create the two required schedules and claim the proportionate share of the net on each tax return.