Line 122 – Net partnership income: limited or non-active partners only

On line 122, report your share of the net business income or loss from a partnership if the partnership did not include a rental or farming operation and you were either:

  • a limited partner, or
  • not actively involved in the partnership and not otherwise involved in a business or profession similar to that carried on by the partnership

If a child who is under 18 is reporting certain limited or non-active partnership income, see line 424 – Federal tax on split income for information on split income of a child.

If your partnership income is from a tax shelter, see Tax shelters.

You may have to make Canada Pension Plan contributions on your net partnership income. See line 222 – Deduction for CPP or QPP contributions on self-employment and other earnings.

Attach your Form T5013, Statement of Partnership Income to your tax return. If you did not receive a slip, attach a copy of the partnership's financial statement.

Note

If the partnership has a loss, the amount you can claim could be limited. For more information, call 1-800-959-5525.

Completing your tax return

If you are a limited or non-active partner, enter the net partnership business income (loss) (box 104 on your T5013 slip) on line 122.

On line 126, enter the net rental income (loss) from a partnership (box 107 on your T5013 slip).

On line 141, enter the net farming income (loss) from a partnership (box 101 on your T5013 slip) and see Business.

On line 143, enter your net fishing income (loss) from a partnership (box 103 on your T5013 slip) and see Business.

If you are not a limited partner, enter your partnership income from self-employment on line 135 – 143, and see Business.

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