Where do I report the income from sale of my 50% share in a business?

Do i report it as income to my other sole propriety business?  OR income from the existing business?  Or is have something to do with capital gains?

Answer

When you sell your ownership share in a business, it generally results in a capital gain or loss. How this is reported depends on the structure of the business and other factors. See this page for some information on the topic:

http://www.cra-arc.gc.ca/tx/bsnss/tpcs/lf-vnts/sllng/menu-eng.html


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rhino , emptor criticus

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