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Level 2
June 3, 2020
Question

How to enter rental (inactive income) income in T2

  • June 3, 2020
  • 2 replies
  • 6 views

how to enter rental income (inactive income) in T2

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2 replies

TDallaire
Level 6
June 3, 2020

In S7Rental

tsekar352Author
Level 2
June 3, 2020
Only in S7 or in S7 and in S125 (same information).
if I put in S7 only not calculate tax and do not show any retained earnings in S50
tax rate also different rate
Please give me details answer
thanks
Level 4
June 9, 2020

Hi thank you for using Intuit ProFile Community

Just to summarize:

Use schedule 125 to report the rental income

Use schedule 7  and s7rental to report the rental income for passive income purposes

Use schedule 8 to report CCA

For information on your specific scenario consult the CRA resourses

Hope this helps