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Video: T2125 Business Statements

Updated: 2018-03-23

T2125 Business Statements

Get started with the basics of preparing a T2125 business statement in TaxCycle T1. Learn how to:

  • Create a T2125 form set (3:26)
  • Type of business activity (7:47)
  • Alternate year-ends and T1139 (8:35)
  • Find and enter industry codes (13:00)
  • Bring in income reported on a T4 or T5013 slip (14:53)
  • Import data from Excel® (20:06)
  • Enter business-use-of-home expenses (26:19)
  • Allocate a partnership share (27:55)
  • Smart copy/paste statements between partners (31:05)
  • Trigger a T2203 for multiple jurisdictions (33:30)

Date of broadcast: March 19, 2018
Presented by: Elizabeth Kohl