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 if the partnership did not include a rental (line 12600 of the return) or farming operation (line 13499 to line 14300) and you were either:

  • a limited partner
  • not actively 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 line of your return (lines 13500, 13700, 13900, 14100, and 14300 of your return).

Note

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

If you have a tax shelter, see Tax shelters.

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.

Note

You may have to make Canada Pension Plan contributions on the net income you report on line 12200 of your return.  See line 22200 – Deduction for CPP or QPP contributions on self-employment and other earnings.

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 12200.

On line 12600, enter the net rental income (loss) from a partnership (box 107 on your T5013 slip).

On line 14100, enter the net farming income (loss) from a partnership (box 101 on your T5013 slip) and see Business.

On line 14300, 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 13500 – 14300, and see Business.

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