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How do I report T5013 on my tax return?

As an individual, you must report your partnership income on your personal income tax return. Use Form T2125 \u2013 Statement of Business or Professional Activities to outline your revenue and expenses, and then transfer numbers to your income tax return as prompted.

What is a T5013 tax form?

What Is the T5013? The T5013 form is the designated Partnership Information Return. Also known as the Statement of Partnership Income, professional partnerships use the T5013 slip to report basic information about their business to the CRA.

What is Box 117 T5013?

The meaning of the Box 117 in CRA's current T5013 information guide is that "Box 117: Gross Canadian and foreign rental income - Enter this amount on line 12599 of your T1 return".

What is a T5013 tax form?

What is T5013? Canadian tax form T5013, also known as the Statement of Partnership Income, is a form that partnerships in Canada use to report basic financial information about their business to the CRA. Partnerships don't pay income tax in Canada, and T5013 is not used to calculate your tax liability.

How do I enter T5013 in TurboTax?

Instructions for TurboTax Online Select Find from the menu. Enter T5013 in the Find window. Select T5013 Partnership Income from the list of results, and then select Go. ... Select Enter New T5013. ... Fill out the form in TurboTax with the information from your slip. Select Done with T5013.

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