In 2023, I made a foreign income in Japan as a royalty ( I allowed my digital illustrations to be used).
I do not have any business number, but I assume that this falls under the category of foreign income - business, self-employed in Canada.
I selected "Foreign Income and Property" under the business foreign income on the Interview setup page.
From here I am stuck. Do I enter the amount I received in Japanese yen before taxes in "Gross amount of Foreign Business Income" and "Foreign Business Income Entered as Business Income"?
I also started to fill out T2125 for self-employment income. However, how do I enter the business income when my only income for the year was from this foreign income in Japan as a royalty and I do not have any other expenses? Do I report the business income of an amount before the taxes I have already paid to Japan in CAD dollars?
If anybody can provide me with any advice, it would be really appreciated.
