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possites
New Member

Where do I deduct commissioned sales expense on tax form?

I use a subscription based service to manage portfolio transactions necessary in my business. Where in Turbotax do I include this expense?TIA

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Accepted Solutions
Sally71
New Member

Where do I deduct commissioned sales expense on tax form?

If you are on contract/self employed, then you would have to complete and submit a T2125 form with your tax return.  Then you a list of expenses you are allowed to claim. 

You need to do your tax return as self employed.

If you are an employee, your employer needs to complete and provide you with a T2200 form explaining the expenses you incurred to do your job as commissioned salesperson, then complete a T777 form.

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4 Replies
Sally71
New Member

Where do I deduct commissioned sales expense on tax form?

If you are on contract/self employed, then you would have to complete and submit a T2125 form with your tax return.  Then you a list of expenses you are allowed to claim. 

You need to do your tax return as self employed.

If you are an employee, your employer needs to complete and provide you with a T2200 form explaining the expenses you incurred to do your job as commissioned salesperson, then complete a T777 form.

possites
New Member

Where do I deduct commissioned sales expense on tax form?

Hi Sally,
I understand what is needed and have a T2200 from the Company and complete the T777 when doing my taxes. I just don't know where I put the amount for the service I use, it works out to over $900 per month ($10,800 annually)
Marketing expenses, food and beverage, etc. each have a line not sure what line this expense would go? Thanks for the answer though.

Where do I deduct commissioned sales expense on tax form?

Line 9270 for other expenses is about the only reasonable place to put it, as subscription services.
possites
New Member

Where do I deduct commissioned sales expense on tax form?

Thanks Delphision.