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FatAlto
New Member

T4A Box 48 self-employment statement

This is the first year that I have received a T4A for a portion of my self-employed earnings. The T4A reports this amount in box 48 (fees for services). TurboTax prompts me to indicate the category that these fees fall under. There is a dropdown menu with 20 options, except they are only listed as numbers T2125B #1-4, T2125P #1-4,  T2125C #1-4 and so on with no explanation and I cannot find any guide to assist me in selecting the correct option. When I troubleshoot it looks like in previous tax years the dropdown menu was much shorter and simpler (i.e, only a few categories like Business Fees, Professional Fees, etc.). With the current menu, I have no idea which one to select. Screenshot below. Advice much appreciated! 

 Screenshot (1).png

2 Replies

T4A Box 48 self-employment statement

If you are self-employed, you can claim under expenses when filling out T2125. Use the T2125 form to report either business or professional income and expenses.

T212B: Business income—income from any activity you do for a profit and includes sales, commissions, or fees. T2125P: Professional income—income that is from a profession that has a governing body (such as one for lawyers, professional engineers, etc.) T2125C: Commissions—income that is from commission sales.

You will select what applies best and suits your situation.

 

Thank you for choosing TurboTax.

FatAlto
New Member

T4A Box 48 self-employment statement

Thank you. I am aware that I need to report it as Business Income (which you have identified as falling under the T2125B heading), however, this still does not fully the answer the question as the drop down menu lists 4 options for T2125B #1,2,3,4. I need to know which number to select. TurboTax needs to provide clarification on this menu that I attached as a screenshot in my original post, to make it clear to users what each option means. Please provide further clarification on this menu for me.