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Showing results for tags 'Self employment'.
Hello there, I would like to know more details on how to report hobby income earned through flipping items on online platforms like eBay and StockX In 2020, I have made a net profit of $863 from selling shoes. The total sale revenue was $12037 and after deducting the cost of inventory, shipping, website fees, processing fees, my net profit in 2020 was $863. I am not sure how to report this $863 net profit. I have been told to use form T2125 - Business Identification but it does not fit properly the nature of my hobby work. The information requested in form T2125 is more geared
Hello, I'm completing a return for my daughter. I'm getting the following error message and I don't know what to do about it. Can someone please help? "You have CPP contributions on self-employment and other earnings with CPP contributions on employment income. The result of the CPP contributions payable on self-employment and other earnings of Schedule 8 is negative. You may have an overpayment. In this situation, the CRA does not want an amount on line 448 and wants to calculate it for you." Thank you