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How can I put subcontract costs in the business expenses on the online turbotax?
I can put this under wages and salary but this is a different line item on the actual T2125 form? Does it actually make a difference?
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How can I put subcontract costs in the business expenses on the online turbotax?
Subcontractor fees are included in the Inventory screens in Self-employment section of your return. You can reopen the business section and add the amounts. Choose "Business Summary" from the Self-Employment menu on the left side of your screen and click the option to Edit. On the screen that appears, select Income and Inventory.
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How can I put subcontract costs in the business expenses on the online turbotax?
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How can I put subcontract costs in the business expenses on the online turbotax?
At this point, your best option is to include that expense in the "Other Expenses" spot - it's on the same screen as Office Supplies. Salaries & Wages is designed more for actual employees (with payroll deductions from you).
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How can I put subcontract costs in the business expenses on the online turbotax?
Is there any way to change the type of business in midstream? Ive spent over an hour trying to find where to enter subcontract expenses. Thanks.
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How can I put subcontract costs in the business expenses on the online turbotax?
You can change the business type from the self-employment profile:
- From the left side selection, go to the drop-down menu of self-employment.
- Go to the self-employment profile and it will walk you through the business types.
- On the second slide click on edit beside the business summary, change from "professional" to "other type of business".
The software will save your expenses and vehicle information. However, you will have to re-enter the income section since professional income is different from other types of business.
I hope this was helpful