T5013 slip entry error
When entering your T5013 slip, you may encounter the following situation:
You’re a partner in a limited liability partnership
You’ve entered your partnership’s business income from your T5013 slip into TurboTax.
In the TurboTax Detailed Tax Summary, or in the T1 return, the income is incorrectly showing on line 12200.
However, your share of the income needs to be reported on your return at line 13500 so that it follows the directions given by the CRA at Box 104: Limited partner's business income (loss).
If you are experiencing this situation, select your TurboTax version for the solution
TurboTax Online
From 2024 tax return under Add to your return, enter T5013 and select T5013 - Partnership income.
At T5013 - Summary select Edit.
At [your name] T5013 - Statement of Partnership Income, beside Net Income (loss) Total delete the income amount previously entered, and ensure that the amount is $0.
Select Done with T5013.
At T5013 - Summary select Done With T5013 Slips.
From 2024 tax return under Add to your return, enter T2125 and select T2125.
At Your Self-Employment or Business Summary select Enter New Business for [your name].
From What category is your self-employment work? onward, proceed through the interview steps, providing details about your partners and the partnership business.
At Do any of these situations apply? make sure you select My work or business is a partnership, and continue providing details about your partnership business.
At [your name] what was your self-employment income? enter the partnership’s total business revenue.
Continue providing details about your partnership business.
At Next up, claiming your expenses, you’ll select Continue and then provide info about your share of the business expenses.
At Select the types of expenses you have, select the applicable expense category or categories.
At Here’s your [type of business] info, for each applicable expense type in turn, select Start and enter the amount of the partnership’s expenses.
If you have expenses the partnership didn’t reimburse you for, under the category Expenses deductible from your share of partnership income, select Start.
At Expenses deductible from your share of partnership income, enter the expenses
Once you’ve entered all applicable partnership business expenses, select I’m done.
At Your Self-Employment or Business Summary under Net Income you’ll see your share of partnership income that will be reported on line 13500 of your return.
TurboTax Desktop
Select Income & Expenses > T-slips > T5013 Partnership income.
At T5013 - Summary select Edit.
At [your name] T5013 - Statement of Partnership Income, beside box 104 Ltd. part. Bus. income (loss), delete the income amount previously entered and enter $0.
Select Done with T5013.
At T5013 - Summary select Done With T5013 Slips.
From the side menu select Business profile.
From Business expert interview onward, proceed through the interview steps, providing details about your partnership business.
At [your name] Other Information About Your Business, ensure you select My business has partners.
At [your name] T2125 Details of Other Partners ensure you have the correct figure for your partnership share, and enter the info for the other partners.
At [your name] Your partnership expenses enter any expenses for which the partnership didn’t reimburse you, if any.
At [your name] T2125 Business Income, make sure you enter the gross business income, and continue providing details about your partnership business.
At [your name] T2125 Claiming Business Expenses you’ll proceed to enter info about the partnership’s business expenses.
At [your name] T2125 Business Summary, you’ll see the amount of your net income that will appear on line 13500 of your return.
