T3 slip - Community organization income - Box 26 *This second box 26 pertains to the income of a community organization and this income should be entered in Business income. Please follow the steps below:
1. On the "Left-side menu of the Interview tab", select the "Interview setup" item.
2. On the right-side of the screen, go to the "Self-employed workers" group and check the box "Self-employment income". In addition, if you have paid instalments, go to the "Instalments and transfer of income tax" group, check the box next to "Instalment payments and tax transfer" and click "Next" at the bottom of the page.
3. Go back to the "Left-side menu of the Interview tab", click on the line "Self-employment income" and select the option "T2125 - Business income" in the page appearing on the right.
4. On the "Business Identification" page, enter your business name in the "Business name (or your name, if the business does not have one)" line, then enter the other information in the mandatory fields preceded by the red asterisk.
5. On the "North American Industry Classification System 6-digit code" line, enter the NAICS code that best describes your industry. If you do not know the NAICS code, click on the tooltip (the question mark) "?" on the right side of the box to get it.
6. For the line "Products or services and their respective shares (%) of total income (mandatory for a Quebec return)", in the field to the right, enter your service or main product and enter the percentage (%). If you have other products or services, click on the "plus sign +" icon on the right to generate another field.
7. Next, once your company has been identified, a sub-menu will appear in the "Left-side menu of the Interview tab" to allow you to enter "Income and expenses", "Vehicle expenses ", "Home office expenses", etc.
8. In the following page "Income, expenses" for the line "Gross sales, commissions or fees", you must enter an amount; if you have no income, enter $0.00, because it is a mandatory field. NOTE: For expenses, if your business is registered with the GST and HST (QST), the expenses must be entered without the taxes to consider the ITCs (input tax credit) or ITRs (refunds of input tax) that you have claimed.
9. Still in the "Business income" page, go to the bottom of the page to the line "Income from a community organization (T3 box 26)" and you must enter the amount in box 26 * of the T3 slip.
10. If you have incurred any expenses, please enter them in the subsections below.
This amount will be carried over by the program to line 13499 for gross income and to line 13500 for net income of the federal return.
For residents of Quebec, the net income will be entered on line 154 and Schedule L "Business income" will be generated.
The program will generate form T2125 for the federal return, as well as form TP-80 for residents of Quebec.
Please note you must enter the amount in box 26 * of the T3 slip.
ID: 20210914160617DE.xml
Webpage: KPA390-20210914160617DE.htm