Reporting partnership income

Generally, a partnership does not pay income tax on its income and does not file an income tax return.

Instead, each partner files an income tax return to report their share of the partnership's net income or loss.

This requirement for each partner to report their share of the partnership's net income is the same whether the share of income was received in cash or as a credit to one of the partnership's capital accounts.

Forms and publications

• T4002, Self-employed Business, Professional, Commission, Farming, and Fishing Income
  
• T5013 forms and T4068, Guide for the Partnership Information Return