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
