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MichMattCam3

Box 48 on a T4A

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I have a question....

I was issued a t4a with income reported in Box 48 (fees for service).  $250.  It was given to me by an organization for working with a co-op student.  I don't have a business.  I am unable to ufile because it says I need to fill out a t2125.  My income is only a t4.  Help......

Thanks,

Michelle

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You have received a T4A slip with an amount in box 048, for the fees you received. To enter this amount in the program, please follow the steps below:

 

1- In the "QuikClik Navigator" to the left of the screen, select "Pension income, T4A, split pension".

2- On the page that appears on the right, select "T4A - Pension, retirement, annuity, and other income".

3- On the newly generated page, select "Box 048 - fees for services (report this amount as a T2125 - Business or Professional income)" and enter the amount from box 048 of the T4A slip.

4- Return to the "QuikClik Navigator" and click again on "Interview setup".

5- On the page that appears on the right, select the "Self-employment business income" and click "Next".

6- In the "QuikClik Navigator", click on the line "Self-employment income" and, on the page appearing on the right, select either "T2125 - Business income" or "T2125 - Professional income" .

7- On the page "Business identification", enter the name on the line "Name of the professional business (or your own name if the business does not have one)", then record the other information in the required fields marked with a red asterisk.

8- In the field for "6-digit code from the North American industry classification system", enter the code that best describes your industry. If you do not know the code, click on the tool tip (the question mark) (?) on the right-hand side of the box to get it.

9- In the section "Professional income and expenses", enter $0.00 for the line "Professional fees (including work-in-progress)" and enter the amount in box 048, T4A on the line "Fees for services (T4A Box 048)". If you have expenses, enter them in the boxes corresponding to their description.

 

The amount will be reported on lines 162 or 164 and 135 or 137 of the federal return. If applicable, this amount will also appear on line 154 of the Quebec return as well as line 25 of Quebec Schedule L. The program will also generate federal form T2125, as well as Quebec form TP-80 if required.

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