Get Canada T2125 2019-2026

Navigating the Canada T2125 form for self-employment business and professional income can seem daunting. This guide provides clear, step-by-step instructions to help users fill out the form accurately and efficiently.

Follow the steps to complete your Canada T2125 form online.

1. Press the ‘Get Form’ button to access the T2125 form and open it for editing.
2. Begin by filling out Part 1 – Identification. Provide your name, social insurance number, business name, business number, and address along with the fiscal period dates.
3. Indicate whether this was your last year of business, and describe your main product or service. Select your accounting method and enter the industry code as per the appendix in Guide T4002.
4. If applicable, move to Part 2 – Internet business activities. Specify the number of web pages and websites that generated income and provide their URLs. Enter the percentage of your gross income derived from these online sources.
5. Proceed to Part 3. If you have business income, fill out Part 3A; if you have professional income, complete Part 3B. Ensure to list gross sales or professional fees appropriately.
6. For Part 3C, calculate your gross business or professional income based on the adjusted sales from Part 3A or Part 3B.
7. Complete Part 4 to determine your net income or loss before adjustments. Enter appropriate expenses, including advertising and office expenses.
8. In Part 5, report your net income or loss based on the calculations from the previous sections. For partnerships, include details as necessary.
9. Lastly, review all entries for accuracy. Save changes to your form and download, print, or share it as needed.

Complete your Canada T2125 form online now for a seamless filing experience.