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New Member
posted Mar 3, 2023 7:31:57 AM

Is Pension income considered Self-Employeed income?

This is my first return since retiring. TurboTax is asking me to upgrade to file a Self-Employed return.

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Moderator
Mar 4, 2023 4:26:10 PM

If you've entered an amount from any of the boxes on the slips listed below, you have what the CRA says is self-employment or business income:

  • T4 slip: box 81, 82 or 83
  • T4A slip: box 20 or 48
  • T4A slip: box 28 and you selected Yes to the question Does the income declared in Box 028 consist of fees collected for services you provided? in TurboTax Online
  • T3 slip: box 24 (foreign business income)

If you entered an amount in any of these boxes, TurboTax will ask additional questions to report it as business income or to automatically add the info to Form T2125: Statement of Business Activities for you. You might be asked to enter your province of self-employment, business address, industry code, fiscal period, or to complete a self-employment statement.

 

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