T5013 - Statement of partnership income

Entering this Amount

Entering T5013 slip information

Some boxes on this slip are either non-taxable or are automatically calculated by TurboTax according to the CRA's guidelines. Boxes on the slip that you cannot enter into TurboTax are shown for your information only and do not need to be entered.

Tip: If you are preparing a coupled return, enter your T-slips first, then click your spouse's name at the top of the window to switch to his or her T-slip list. That way, you can enter both sets of T-slips quickly.
  1. Click T-Slips at the bottom of the form to open the T-Slip and Receipts Entry window.
  2. In the Federal Slips list, click T5013.
  3. In the first empty column, enter the amounts from your slip into the corresponding boxes.
  4. To enter another slip for the same taxpayer, click in the empty column to the right of the one you just entered.
  5. To enter a slip for your spouse, click his or her name at the top of the window.
  6. When you have finished, click Save & Close.
  7. In the Entering Your Federal T-Slips list, select all the checkboxes that apply.

    Click Take Me There to go there now.

  8. Select all the checkboxes that apply, then click Continue. If you're preparing an individual return, the first T-slip entry screen opens. If you're preparing a coupled return and indicated that both spouses had this type of slip, click to select which taxpayer's slip to enter first.
  9. Enter the amounts from your first slip into the corresponding fields. Some boxes on your paper slip are included for identification purposes and are not required to calculate your taxes.
  10. To enter another T5013 slip, click Enter New T5013 for [NAME]. When you have finished, click Done with T5013s.

Frequently Asked Questions

What tax return do I report partnership income on?

What tax return do I report partnership income on?

Partnership income is reported on the following forms. Partners that are:


  • individuals: report the information on your personal income tax return.

  • corporations or trusts: report the information on either Form T2, Corporation Income Tax Return or Form T5013, Trust Income Tax and Information Return, whichever applies. (This product does not support these forms.)

  • partnerships: with six or more partners in the fiscal year, or fewer than six but one or more partners is another partnership, must file a Partnership Information Return (PIR). For more information, see Partnerships.

    When is the Partnership Information Return due?

What if I have additional expenses?

What if I have additional expenses?

You may need to adjust your share of the net partnership income or loss shown on your Form T5013 Supplementary. Do this to deduct any business expenses you incur for which the partnership did not repay you, and any other deductible amounts. If this is your situation, enter these business expenses on page one of the appropriate self-employment form. (i.e. T2125, T2042, T2121) or rental income form (T776). For further information, see Deductions from your share of net partnership income.

For more details, get the CRA publications T4068, Guide for the Partnership Information Return or Information Circular IC89-5, Partnership Information Return. Also refer to the information on the back of your T5013 form.

What if the T5013 amounts are not in Canadian dollars?

What if the T5013 amounts are not in Canadian dollars?

If there are any amounts on your T5013 slip that are reported in a foreign currency (e.g., in U.S. dollars), you must convert them to Canadian dollars before you enter them.

If you received the amount on a certain day and you know the exchange rate for that day, use it. For example, if you received a capital gain, use the rate at the time the gain was realized.

However, if you received the amount over time, use the average exchange rate over the period (daily, monthly, or annually) in which the income was earned. To find the average exchange rate, contact the Bank of Canada at 1 613 782-7506 (toll charges apply) or visit the Bank of Canada Web site at http://www.bankofcanada.ca/en/exchange.htm.

TurboTax allows foreign income from three countries. They are described in the Source Country list as U.S.A, Country #2, and Country #3. You should also choose one of these options for this income.

The Canada Revenue Agency says...

Boxes are listed here in numerical order; they may appear in a different order on your paper slip.

Box

Description

Reporting Instructions

 

Partnership information

Enter the Partnership's name, Partnership's ID number, Fiscal period from and to dates, and Industry code. If this is the partnership's final fiscal year, enter Yes next to this question.

Your partnership identification number is 9 characters long (2 letters followed by 7 digits). Enter all 9 characters in the space provided.

If you're unsure of your industry code, see Industry Codes and click on your business type or profession for a complete list of codes.

02 to 03

Business number/Tax shelter ID number

Your business number is a 9-digit business identifier.

Your tax shelter ID is 8 characters long (always the letters TS followed by 6 digits.

CRA uses this information for identification purposes.

08

Member code

This shows the partner's membership status within the partnership: "0" is a limited partner, "1" is a specified member who is not a limited partner, and "2" is a general partner. Code "3" is for a limited partner's exempt interest.

If box 08 is code 2, then the amount in box 18 (business income) will go to one of line 126, 130, 135, 137, 139, 141, or 143 of your tax return (depending on the code in box 05). If Box 09 is code 0, 1, or 3, or if the codes entered in box 05 or box 09 are not valid, the amount from box 18 will go to line 122 - Limited Partnership Income.

10

Partner's share (%) of partnership income (loss)

Enter your percentage share of the partnership. This is for information purposes, and does not affect calculations the software makes with the amounts entered on this screen.

Most amounts shown on the T5013 slip represent only your share of the total partnership income (or loss).

11 &12

Recipient's identification number; Complex sharing arrangements

These are for information purposes only and do not need to be entered.

20

Limited partnership farming income (loss)

This income is included at line 141 of your return.

20.1

Agricultural income stabilization

This income is included on the T1163 - Statement A - AgriStability and AgriInvest Programs Information and Statement of Farming Activities for Individuals orT1273 - Statement A - Harmonized AgriStability and AgriInvest Programs Information and Statement of Farming Activities for Individuals, whichever applies to you.

21

Limited partnership fishing income (loss)

This income is included at line 143 of your return.

22

Limited partnership business income (loss)

This income is included on Schedule 4 and shown at line 135 of your return.

22.1

Limited partner's at-risk amount

If there is no amount in this box, you cannot claim any losses shown in boxes 20, 21, 22, and 26.

23

Limited partnership rental income (loss)

This amount is transferred to Form T776 and included on line 126 - Rental Income.

24

Limited partnership loss available for carryforward

This is the part of your current-year limited partnership loss that you cannot deduct on the current year's T1 return. You can only deduct it from the same partnership's income in future years if you have a positive at-risk amount after applying paragraph 111(1)(e) of the Act. You can carry it forward indefinitely.

25

Previous loss carryforward eligible in the current year

This is the limited partnership loss from previous years that you can claim in the current year. It is shown at line 251 of your T1 General.

26

Canadian and foreign net rental income (loss)

This amount is entered on Form T776 and included on line 126 - Rental Income.

26.1

Foreign rental income that is exempt from Canadian tax due to a tax convention or agreement

This amount is included in line 26 and is used to calculate your foreign tax credit for the country named. This credit is shown at line 405 of Schedule 1.

30

Other income

This amount is included at line 130 of your T1 General.

34

Partnership's total gross income

This is the total gross income for the partnership from all sources. This amount is shown at line 162 (business), 164 (professional), 166 (commission), 168 (farming), or 170 (fishing) of the T1 General.

35

Business income (loss)

This is your net income from business. It is shown on your T2125 - Statement of Business or Professional Activities and at line 135 of your T1 General.

35.1

Foreign business income that is exempt from Canadian tax due to a tax convention or agreement

This amount is included in box 35. It is used to calculate your foreign tax credit for the country named. This credit is shown at line 405 of Schedule 1.

37

Professional income (loss)

This is your net income from professional activities. It is shown on your Form 2125, Statement of Business or Professional Activities and at line 137 of your T1 General.

39

Commission income (loss)

This is your net income from commission. It is shown on your T2125 - Statement of Business or Professional Activities and at line 139 of your T1 General.

41

Farming income (loss)

This is your net income from farming. It is shown on your T2042 - Statement of Farming Activities, T1163 - CAIS Program Information and Statement of Farming Activities for Individuals, or T1273 - Statement A - Harmonized CAIS Program Information and Statement of Farming Activities. It is also shown at line 141 of your T1 General.

You could have a restricted farm loss.

43

Fishing income (loss)

This is your net income form fishing. It is shown on your T2121 - Statement of Fishing Activities and at line 143 of your T1 General.

50

Interest from Canadian sources

This amount is shown at line 121 of Schedule 4.

51.1

Taxable non-eligible dividends

This is the taxable amount of dividends (other than eligible dividends) for partners that are individuals resident in Canada (other than a trust that is a registered charity), including partnerships and trusts that are eligible for the federal dividend tax credit.

These amounts are shown at line 180 of Schedule 4.

52.1

Taxable eligible dividends

This is the taxable amount of eligible dividends for partners that are individuals resident in Canada (other than a trust that is a registered charity), including partnerships and trusts that are eligible for the federal dividend tax credit.

These amounts are shown at line 120 of Schedule 4.

55

Foreign dividend and interest income

This amount is shown at line 121 of Schedule 4.

55.1

Foreign investment income that is exempt from Canadian tax due to a tax convention or agreement

This amount is included in line 54 and is used to calculate your foreign tax credit for the country named. This credit is shown at line 405 of Schedule 1.

56

Business investment loss

This amount is your gross business investment loss. It is calculated and shown at line 228 of your T1 General.

57

Dividend rental arrangement compensation payments

This amount is shown at line 221 of Schedule 4.

58

Other investment income

This amount is shown in Area II (line 121) of Schedule 4.

59

Carrying charges

This amount is your share of the carrying charges for earning all investment income. It is shown at line 221 of your T1 General.

70

Capital gains (losses)

Click the Box 70 button to enter amounts shown in boxes 70-1 through 70-18 on your paper slip.

This amount is included at line 174 of Schedule 3 - Capital Gains (or Losses) and at line 127 of your T1 General.

71

Capital gains reserves

Click the Box 71 button to enter amounts shown in boxes 71-1 through 71-8 on your paper slip.

This amount is used to complete Form T2017 - Summary of reserves on dispositions of capital property. The result is included on Schedule 3 and at line 127 of your T1 General.

80

Income tax deducted

This amount is included at line 437 of your T1 General.

81

Foreign tax paid on non-business income

This amount is used to calculate your foreign tax credits on your foreign non-business income. This credit is shown at line 405 of Schedule 1.

82

Foreign tax paid on business income

This amount is used to calculate your foreign tax credits on your foreign business income. This credit is shown at line 405 of Schedule 1.

90

Canadian exploration expenses (CEE)

This amount is used to calculate your allowable deduction for your cumulative Canadian exploration expense (CCEE) pool on Form T1229 - Statement of Exploration and Development Expenses and Depletion Allowance.

This amount is included at line 224 of your T1 General

91

Canadian development expenses (CDE)

This amount is used to calculate your allowable deduction for your cumulative Canadian development expense (CCDE) pool on Form T1229 - Statement of Exploration and Development Expenses and Depletion Allowance.

This amount is included at line 224 of your T1 General

92

Canadian oil and gas property expenses (COGPE)

This amount is used to calculate your allowable deduction for your cumulative Canadian oil and gas property expenses (CCOGPE) pool on Form T1229 - Statement of Exploration and Development Expenses and Depletion Allowance.

This amount is included at line 224 of your T1 General.

93

Foreign exploration and development expenses (FEDE)

This amount is added to your development expense pool in Area III of Form T1229 - Statement of Exploration and Development Expenses and Depletion Allowance.

94

Recapture of earned depletion

This is your share of the recapture of earned depletion that the partnership used to arrive at the net income (loss) shown in boxes 30, 35, 37, 41, and 43.

It is calculated on Form T1229 and included in line 224 of your T1 General.

95

Amount eligible for a resource allowance deduction

This is your share of the resource profits that the partnership used to arrive at the net income (loss) shown in box 35.

It is calculated on Form T1229 and included in line 224 of your T1 General.

96

Assistance for Canadian exploration expenses

This amount is used to calculate your allowable deduction for your cumulative Canadian exploration expense (CCEE) pool on Form T1229 - Statement of Exploration and Development Expenses and Depletion Allowance.

This amount is included at line 224 of your T1 General

97

Assistance for Canadian development expenses

This amount is used to calculate your allowable deduction for your cumulative Canadian development expense (CCDE) pool on Form T1229 - Statement of Exploration and Development Expenses and Depletion Allowance.

This amount is included at line 224 of your T1 General

98

Assistance for Canadian oil and gas property expenses

This amount is used to calculate your allowable deduction for your cumulative Canadian oil and gas property expense (CCOGPE) pool on Form T1229 - Statement of Exploration and Development Expenses and Depletion Allowance.

This amount is included at line 224 of your T1 General.

103

Eligible amount of charitable donations and government gifts

This amount is included in line 1 on Schedule 9 - Donations and Gifts. The donation credit is calculated and shown at line 349 of Schedule 1.

104

Eligible amount of cultural and ecological gifts

This amount is included in line 342 on Schedule 9 - Donations and Gifts. The donation credit is calculated and shown at line 349 of Schedule 1.

105

Eligible amount of federal political contributions

This amount is included in the political tax credit calculated at line 409 of Schedule 1.

106

Eligible amount of provincial and territorial political contributions

This amount is included in the political tax credit calculated on the provincial form.

107

Investment tax credit

This amount is used to complete Form T2038 - Investment Tax Credit (Individuals) and line 412 of your T1 General.

108

Excess ITC captures

Excess ITC captures are shown on Form T2038 - Investment Tax Credit (Individuals).

120 to 125

CEE or CDE renunciation and assistance

This is your share of renunciation or assistance for Canadian exploration expenses (CEE) or Canadian development expenses (CDE). The amounts reported here depend on whether you are a general or a limited partner.

These amounts are transferred to Area I of Form T1229 - Statement of Exploration and Development Expenses and Depletion Allowance.

130

Portion of expenses or reduction subject to an interest-free period (CEE)

This is your share of the reduction that is available for the interest-free period. These amounts are transferred to the bottom of Area I on Form T1229.

128

Expenses qualifying for an ITC

This is your share of any Canadian exploration expenses (surface exploration in the mining sector only) that qualify for ITC. This amount is transferred to Area I of Form T1229. You should complete the Investment Tax Credit section of the interview.

141 to 145

Expenses qualifying for a provincial tax credit

This is your share of any Canadian exploration expenses (mining only) that qualify for a provincial tax credit. You may be eligible for a provincial tax credit on qualifying expenditures. See Provincial tax and credits for more information.

The provincial credit is also transferred to Area IV of Form T1229.

162

Gross business income (loss)

This amount is shown at line 162 of your T1 General.

164

Gross professional income (loss)

This amount is shown at line 164 of your T1 General.

166

Gross commission income (loss)

This amount is shown at line 166 of your T1 General.

168

Gross farming income (loss)

This amount is shown at line 168 of your T1 General.

170

Gross fishing income (loss)

This amount is shown at line 170 of your T1 General.

Other Information

Source Country of foreign income

This indicates the country where the income shown was generated or earned. Use Country #2 and Country #3 as temporary placeholders to represent source countries other than the U.S.A.

Related information
Partnerships