My spouse and I are retired. We share investments. TurboTax asked us to upgrade to self employed. We are retired. Now I don't know what to enter as a type of employment?

The Self-Employed version is designed for individuals who have income from self-employment activities, such as freelancers, independent contractors, or small business owners. Instead, you should use the TurboTax Standard or TurboTax Premier version, depending on your specific tax situation. Both of these versions are suitable for retirees who have investment income and other sources of income, such as pensions, RRSPs, or government benefits and it also helps in the calculation of retirement taxes. 

 

When entering your profile, you come to the screen that asks you ".......what happened for you in 2022" you will say yes to this question: "did you have income from investments, such as: interest earned; sale of stocks, stock options, cryptocurrency, or real estate; rental property income; or related investment expenses?" TurboTax will then guide you through the process of entering your investment income and other sources of income, as well as any deductions or credits you may be eligible for.

 

Additional Information: 

• The type of income you have will determine where and how to apply it to your tax return. Review this link for a better understanding. This one will explain what you need to know about your OAS pension and your taxes
• RRSPs, this link will tell you everything you need to know for tax time.

Thankyou for choosing TurboTax.