Contractor Income and expenses

[SteveL1954]

My wife, who is retired, earned income as a freelance contractor (single contract for professional services with no business affiliation) and was not issued a T slip.  How do I report this income and how do I claim expenses associated with fulfilling the contract?

[champ_a_adc]

She is considered self-employed if she earns total or supplemental income from freelance work that is not taxed at source. In this case, she will fill T2125 form (Statement of Business or Professional Activities) form to declare taxable income and associated expenses/deductions to the Canada Revenue Agency (CRA).

For more information, visit:

• what do you need to file a freelance or contractor income, visit Am I a freelancer and how does that affect me at tax time? 
• Expenses you can deduct: Tax Deductions for the Self-Employed 
• T2125 form: T2125 Tax Form 

For additional guidance please view our TurboTax FAQ/video: Self-Employment

Thank for choosing TurboTax.