Line 12200 – Net partnership income (limited or non-active partners only)
Report your share of the net income (or loss) from a partnership other than rental or farming operations on line 12200 of your return if you were one of the following:
- a limited partner
- a partner who was not actively involved in the partnership and not otherwise involved in a business or profession similar to that carried on by the partnership
If neither of these situations applies to you, report your share of the partnership's net income (or loss) on the applicable self-employment income line (lines 13500, 13700, 13900, 14100, and 14300) of your return.
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.
Enter the following partnership amounts from your T5013 slip on your return:
- Box 107 on line 12600
- Box 101 on line 14100
- Box 103 on line 14300
If you did not receive a T5013 slip, attach a copy of the partnership’s financial statement to your paper return.
If you are not a limited partner, enter your partnership income from self-employment on lines 13499 to 14300 of your return.
Notes
If the partnership has a loss, the amount you can claim may be limited.
You may have to make Canada Pension Plan (CPP) contributions on the net income reported on line 12200. See line 22200.
If the partnership is a tax shelter and you want to claim deductions, losses, or credits, 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.
Forms and publications
- Income Tax Package
- Form T2203, Provincial and Territorial Taxes for Multiple Jurisdictions
- Form T5004, Claim for Tax Shelter Loss or Deduction
- Interpretation Bulletin IT-510 ARCHIVED, Transfers and loans of property made after May 22, 1985 to a related minor
- Interpretation Bulletin IT-511R ARCHIVED, Interspousal and Certain Other Transfers and Loans of Property