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Missing field for T2125


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When entering professional self employment income income (T2125, part 2), the program provides no field in which to enter HST collected. 

 

On T2125 part 2, HST collected is supposed to be entered on line (i) so that it can be subtracted from the amount on line D. However, I can find no field that allows me to enter the amount required for line (i). Please explain how I can enter the amount for line (i).

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You must include in your tax return all income earned from self-employment. This may be business, professional, commission, farming or fishing income. To enter this amount in the program, please follow the steps below:

 

1- In the "QuikClik Navigator", on the left-hand side of the screen, select "Interview setup".

 

2- On the page that appears on the right, in the ''Income '' section, select the "Self-employment business income" and click "Next".

3- Return to the "QuikClik Navigator", click on "Self-employment income" and select the option that corresponds to your situation on the right-hand side page. For resident of Quebec, if you wish to pay your registration fee for Quebec, you must choose the option ''Q438 - Quebec annual registration fee for the entreprise register'';

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

5- 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.

6- Subsequently, after identifying your company, a sub-menu will appear in the "QuikClik Navigator" to allow you to enter "Income & expenses", "Motor vehicle expenses", "Home office expenses" and so on.

7 - On the next page ''Income, expenses'' on line ''Gross sales, commissions or fees'' you must enter a value, if you have no income, enter $ 0, 00 as this is a required field;

8 - NOTE; for expenses, if your company is registered for GST and HST (QST), these expenses must be entered before taxes to reflect the ITRs (input tax refund) and ITCs (input tax credit) you claimed

 

 

The program will also generate federal form T2125, as well as Quebec form TP-80 if applicable.

 

Furthermore, we recommend that you read the T4002 guide published by the CRA, for more information on what qualifies as a business expense.

 

For more information, please visit the following link:

 

http://www.cra-arc.gc.ca/E/pub/tg/t4002/

 

For Quebec residents, we suggest that you consult the "Business and Professional Income" guide, published by Revenu Québec. You can visit the following link:

 

http://www.revenuquebec.ca/en/sepf/publications/in/in-155/default.aspx

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