Do i deduct the gst collected from my total revenue? for example. if i collected 16,000 and 800 of it was gst did is my revenue 15,200?
In TurboTax Online, if you are reporting income from a business and you not using the Quick Method for GST, in the the EasyStep chart labelled "what was your self-employment income?" you complete these two boxes:
Total Revenue
Enter how much you made (or will make) from this self-employed work for the tax year. This includes money, credits, barters or exchanges (Including GST/HST or PST).
GST, HST and PST
Enter how much GST/HST or PST you collected for the tax year
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