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New Member
posted Mar 11, 2023 12:21:52 PM

Where do I enter T5018 (statement of contract payments) info in turbotax?

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Moderator
Mar 13, 2023 4:12:30 PM

To do this in TurboTax Online: 

- Click on the “Find” icon 🔍 and search for “Self”. Select “Self-Employment” and then click the “Go” button.

- Check off “Professional, Commission, and/or Other type of business” and click the “Continue” button.

- On the “T2125 Business Summary” page, click “Edit” next to your business name, or click the “Enter New Business” button to create one. If you create a new business, you will be asked to “Select the business type that applies to you”. Do this and click the “Continue” button.

- On the “[NAME]: T2125 - Business Statement” page, you can enter the amount of Box 22 of your T5018 in the “Income” section in the “Sales, commissions, or fees” box. If you have more than one T5018, or have other income for the business that’s not on a slip, you can add it all together.

 

You will need to use the Self-Employed version of TurboTax Online if you are preparing a return for 2021 or 2022.