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Azarpub
New Member

The self-employment total revenue should include "GST/HST or PST if applicable". But it then asks for GST/HST only. Where should I indicate the amount of collected QST?

I am registered for HST.

 

When entering sales it asks me to include the hst.

 

the question is in expenses, when entering purchases and sub contractors, do i include Hst there as well?

The self-employment total revenue should include "GST/HST or PST if applicable". But it then asks for GST/HST only. Where should I indicate the amount of collected QST?

Do you have a GST number and claim a GST rebate?  You will then enter the amount of the expense minus the GST you paid if you are claiming a rebate for it. If you are not claiming a rebate on the tax, you will enter the expense amount plus the tax you paid in the column according to the tax you paid and are not claiming a rebate.

 

Thank you for choosing TurboTax.

SeeSee58
New Member

The self-employment total revenue should include "GST/HST or PST if applicable". But it then asks for GST/HST only. Where should I indicate the amount of collected QST?

Thank you for this information, most helpful!  I just wanted to confirm/clarify something ... I understand that in PART4 of the T2125 for business expenses, things like Advertising, Office Expenses, etc. ,  we are to enter the expense amount only, less the GST/HST we paid if we are registered.  Which I am, and I do claim ITC.

My question is :  Does the same apply to Part 3D - Cost of goods sold?  For lines -  Opening Inventory and Purchases During the Year  -  Would I include or exclude the GST/HST that I paid on my purchases of raw materials?

Azarpub
New Member

The self-employment total revenue should include "GST/HST or PST if applicable". But it then asks for GST/HST only. Where should I indicate the amount of collected QST?

You would exclude the hst as it will be done with your hst return.

 

 

Azarpub
New Member

The self-employment total revenue should include "GST/HST or PST if applicable". But it then asks for GST/HST only. Where should I indicate the amount of collected QST?

when you enter your revenue with hst, after a few screens it will ask you to enter hst collected.  On the business statement the software will deduct hst.   Everything else entered should be without hst.

MTLfreelancer
Returning Member

The self-employment total revenue should include "GST/HST or PST if applicable". But it then asks for GST/HST only. Where should I indicate the amount of collected QST?

I was wondering if you figured out where to enter 'QST collected' for the 2023 return? I can't find it and I'm sure this is affecting my income tax owed since 'total income' includes GST and QST/PST.

 

Thanks!

MTLfreelancer
Returning Member

The self-employment total revenue should include "GST/HST or PST if applicable". But it then asks for GST/HST only. Where should I indicate the amount of collected QST?

Hi,

I was wondering if you found where to enter QST/PST collected, in Turbotax? This is driving me a bit crazy!

 

Thanks!

J

The self-employment total revenue should include "GST/HST or PST if applicable". But it then asks for GST/HST only. Where should I indicate the amount of collected QST?

Hi @MTLfreelancer, I ended up including the provincial sale tax (PST) in line 3A, together with the GST that I had collected. I found this was reasonable since the form T2125 takes 3A minus 3B to obtain cell 3C, and since 3B explicitly indicates that it should include PST (as far as I undertand, QST is one of the PST's).

This is how I submitted it, although I am not an accountant or a tax consultant so please do not consider this as a professional advice.

MTLfreelancer
Returning Member

The self-employment total revenue should include "GST/HST or PST if applicable". But it then asks for GST/HST only. Where should I indicate the amount of collected QST?

Thank you!