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Self-employed business income is reported on the form T2125, Statement of Business or Professional Activities. This form can help you calculate your gross income and your net income (loss), which are required when you complete your T1, General income and benefit return.

T4A slip - Box 134, Tax-Free Savings Account (TFSA)

To make a withdrawal from your TFSA: From your Accounts page, select your TFSA. Go to Account Details and select TFSA Withdrawal. Choose the account you want to transfer funds to. Enter the amount of your withdrawal. Select Continue to confirm the details.

Use this slip to report the various types of investment income that residents of Canada have to report on their income tax and benefit returns. Do not report investment income paid to non-residents of Canada on a T5 slip. For information about payments to non-residents, see Payments to non-residents of Canada.

​​​​From the Reports menu, select Suppliers & Payables >T4A Detail. The report shows you the suppliers you've already set up in QuickBooks to receive a T4A form. Open a second T4A Detail report, keeping the first one open for comparison. From the T4A Options drop-down, select All Suppliers.

The income must be recorded in box 134 "Tax-Free Savings Account (TFSA) taxable amount," in the "Other information" section of the T4A slip, and is included on the beneficiary's tax return for the 2022 tax year.

Contributions to a TFSA are not deductible for income tax purposes. Any amount contributed as well as any income earned in the account (for example, investment income and capital gains) is generally tax-free, even when it is withdrawn.

The TFSA continues to exist and both its value, at the date of the original holder's death, and any income earned after that date continue to be sheltered from tax under the new successor holder.

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© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232
Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
All Forms
Search all Forms
Industries
Forms in Spanish
Localized Forms
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232