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shapiroja
Returning Member

T5013 or T2125 - how to avoid double income for an individual partner?

Hi there - I've seen some posts touching on elements of this question asked before (some links at bottom), but not quite fully answering what to do.  Hoping someone has the answer here.  Happy to add more detail if I'm not providing enough...

 

Context: 

- I am a partner in a business that, because other partners are incorporated businesses needs to file a T5013 and Partnership Information Return.  As a result, I get a T5013.  

- I am an individual though, and therefore need to file a T2125.

 

Challenge/Confusion:

- I have been issued a T5013

- If I fill in the T5013 in Turbotax, the income goes to Net Self-Employment Income (line 13500)

- there is no way to tell Turbotax that this income needs to be noted on Section 5 of a T2125 (which will also allow me to deduct business-use-at-home expenses, etc.), and become Net Partnership Income (line 12200)

- if I also include these income/costs from the corporate filing, I then end up with double income - data in both Business #1 and T5013 Slips sections of the Business Income Summary form

 

Question:

- Do I just skip inputting a T5013 altogether, and input the data into the T2125 on TT?  That should get to the right output, BUT, if the partnership is filing a T5013, wouldn't the CRA be expecting to see one in my personal return?  If I do that, and override with the Income Summary, or anything else, it then doesn't allow NETFILE

- If I do need to include both a T5013 and T2125, is there a way to connect these data and ensure the income goes to the right place and not duplicate?

 

Thank you!

 

Some Similar Threads, but without the Clear Answer:

 

https://turbotax.community.intuit.ca/community/self-employed/discussion/what-parts-of-the-t5013-do-i...

 

https://turbotax.community.intuit.ca/community/self-employed/discussion/i-have-income-from-a-partner...

 

3 Replies

T5013 or T2125 - how to avoid double income for an individual partner?

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shapiroja
Returning Member

T5013 or T2125 - how to avoid double income for an individual partner?

Thanks, I'll certainly try this, though not sure it's a technical issue that a call center rep can resolve (I think).

 

In the meantime, certainly welcome any additional advice from others who may have had similar experiences / are in a similar context.  

T5013 or T2125 - how to avoid double income for an individual partner?

Thank you for your patience. If a resolution is not reached, please ask for an escalation.

 

Thank you for choosing TurboTax.