Line 122 - Net partnership income:
limited or non-active partners only
Report on line 122 of your return your share of the net income (or loss) from a partnership if the partnership did not include a rental (see Line 126 of this guide) or farming operation (see Lines 135 to 143 of this guide) and you were either :
-
a limited partner
-
not actively involved in the partnership and not otherwise involved in a business or profession similar to that carried on by the partnership
If these two conditions do not apply to you, report your share of the partnership's net income (or loss) on the applicable self-employment line of your return (lines 135 to 143 of your return).
Note
If the partnership has a loss, the amount you can claim could be
limited.
If you have a tax shelter, see "Tax shelters" at the end of Step 2 - Total income of this guide.
If all or part of the income was earned in a province or territory other than your province or territory of residence, or if it was earned outside Canada, get and complete Form T2203, Provincial and Territorial Taxes for 2018 - Multiple Jurisdictions.
Note
You may have to make Canada Pension Plan contributions on the net
income you report on line 122 of your return. See Line 222 of this
guide.
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