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Level 1

Why is partnership income from line 120/ T5013 not include in income summary

 
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Level 1

Why is partnership income from line 120/ T5013 not include in income summary

T5013 - Box 120 - 125 This is your share of renunciation or assistance for Canadian exploration expenses (CEE) or Canadian development expenses (CDE). The amounts reported here depend on whether you are a general or a limited partner. These amounts are transferred to Area I of Form T1229 - Statement of Exploration and Development Expenses and Depletion Allowance

Box 120 of T5013 - this amount is transferred to line C on page 3 of Form T2125, Statement of Business or Professional Activities, and report the income on line 137 of your T1 return. The gross amount is in box 121.

Box 121 Gross professional income (Multi-jurisdictional) –this amount  is transferred to line 164 of your T1 return


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Level 1

Why is partnership income from line 120/ T5013 not include in income summary

T5013 - Box 120 - 125 This is your share of renunciation or assistance for Canadian exploration expenses (CEE) or Canadian development expenses (CDE). The amounts reported here depend on whether you are a general or a limited partner. These amounts are transferred to Area I of Form T1229 - Statement of Exploration and Development Expenses and Depletion Allowance

Box 120 of T5013 - this amount is transferred to line C on page 3 of Form T2125, Statement of Business or Professional Activities, and report the income on line 137 of your T1 return. The gross amount is in box 121.

Box 121 Gross professional income (Multi-jurisdictional) –this amount  is transferred to line 164 of your T1 return