Hello,
I am a sole shareholder in an incorporated business that was a new startup. I have not been paid any wages in 2021. I did give myself a dividend at the end of the year. Any out of pocket business expenses incurred (such as startup costs) have been treated as shareholder loans to the business.
My personal tax situation for 2021 would then be no wage income (so no CPP or EI deductions), a dividend (that I will owe tax on) and no expenses (as they are already under the business side of things).
Which version of Turbo tax should I file my personal taxes under?
If you want to use TurboTax CD/Download, then you can use any version to prepare your tax return. However, we would recommend Premier, as it is specifically designed for people with dividends. You can but it from our website here: TurboTax Premier (Download Version - Windows Only)
If you want to use TurboTax Online, then you will need to use Premier (or higher). You can start a new TurboTax Online 2021 return here: TurboTax Online 2021 - Sign In