Line 7- Farming or fishing income

Line 7- Farming or fishing income

Enter on the appropriate lines, the trust's gross and net income or loss from farming or fishing. If the amount is a loss, report it in brackets. If the trust is a member of a partnership, enter the partnership's total gross income and the trust's share of the partnership's net income or loss. Send the CRA the appropriate forms or statements.

You have to follow certain rules when reporting farming or fishing income. The following publications contain more information and the forms you may need to calculate the trust's income:

• Guide T4002, Self-employed Business, Professional, Commission, Farming, and Fishing Income

• Form T2042, Statement of Farming Activities

• Form T2121, Statement of Fishing Activities

If the trust is a member of the AgriInvest Fund 2, call 1-866-367-8506 to find out which form you should use to report farming income.

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