Business in partnership with spouse. Doing both returns together. how do I get TT to split balances for bus. expenses and income?

When I filed last year I entered the full amounts for Business income and expenses, and the program split everything for me. This year it does not seem to be doing that. I entered all the amounts, but it is putting the totals under my return soley. Did the program change? Does it not split the expenses and income for me any more?

Answer

While filling in your business return (T2125) there is a spot for your share of the partnership. When you enter this percentage it will allocate that percentage of your income or loss to your return. You do the same on your wife's return. It means you have to enter the income and expense amounts on both returns but there is no breaking down of income and expenses except for the % you allocate to both.

Hope this helps

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