Line 12200 – Net partnership income (limited or non-active partners only)
Report, on line 12200 of your return, your share of the net income (or loss) from a partnership (other than from rental or farming operations) if you were one of the following:
- a limited partner
- a partner who was not activily involved in the partnership and not otherwise involved in a business or profession similar to that carried on by the partnership
If these two conditions do not apply to you, report your share of the partnership's net income (or loss) on the applicable self-employment lines (13500, 13700, 13900, 14100, and 14300) of your return.
Report your net rental income (or loss) from a partnership on line 12600 of your return, and your net farming income (or loss) from a partnership on line 14100 of your return.
If the partnership has a loss, the amount you can claim may be limited.
To claim deductions, losses, or credits from tax shelter investments, see your T5003 and T5013 slips, and complete Form T5004, Claim for Tax Shelter Loss or Deduction.
If all or part of the income was earned in a province or territory other than your province or territory of residence, or if it was earned outside Canada, complete Form T2203, Provincial and Territorial Taxes for Multiple Jurisdictions.
You may have to make Canada Pension Plan contributions on the net income reported on line 12200 of your return. See line 22200.
Completing your tax return
If you are a limited or non-active partner, enter your net partnership business income (or loss) from box 104 of your T5013 slip on line 12200 of your return.
On line 12600 of your return, enter the net rental income (or loss) from a partnership from box 107 of your T5013 slip.
On line 14100 of your return, enter the net farming income (or loss) from a partnership from box 101 of your T5013 slip.
On line 14300 of your return, enter your net fishing income (or loss) from a partnership from box 103 of your T5013 slip.
If you are not a limited partner, enter your partnership income from self-employment on lines 13499 to 14300 of your return.
Forms and publications
- Federal Income Tax and Benefit Guide
- Form T2203, Provincial and Territorial Taxes for Multiple Jurisdictions
- Form T5004, Claim for Tax Shelter Loss or Deduction
- Interpretation Bulletin IT510 ARCHIVED, Transfers and loans of property made after May 22, 1985 to a related minor
- Interpretation Bulletin IT511R ARCHIVED, Interspousal and Certain Other Transfers and Loans of Property
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