I moved from BC to ON in 2017 and changed companies. Do I declare final year of business on T2125 for the BC company? But I still work in the same industry

[kwanjt]

I am working in the same industry in ON and I got a T4A which TurboTax shows as a separate T2125. Then do I declare the T2125 I filed for BC as final year of business? If so, what do I do with the UCC I still have?

[TurboTax-Terry · Accepted solution]

If you have an existing Self-employment T2125 but have changed customers you do not have to close the business and can use the existing schedule with carry forward amounts. Make sure that the T4A entry matches the type of business you have established, there are two different Box 48 entries on the T4A screen.