What does "Limit expenses to commission income?" mean in ProTax?
by Intuit• Updated 7 months ago
Issue
You have selected Yes to the question Limit expenses to commission income? but the amount from the Commission income section is not going to T777:
Limit expenses to commission income? means Are you claiming employment expenses as a salaried employee or commission employee?
What next?
If the answer is No, then you are claiming employment expenses as salaried employee and should use amounts from the Salary section of T777 details.
If the answer is Yes then use the greater of the Commission or Salary sections, as its more beneficial.
In some cases, the Commission section amount will be greater. In other cases, the Salary section amount will be greater. ProFile puts the higher amount in T777, as per example in the CRA - T4044 Employment Expenses guide.
Example
As an example, review the "Andrew" case from the CRA T777 guide:
Sign in now for personalized help
See articles customized for your product and join our large community of QuickBooks users.
More like this
- Enter billable expenses in QuickBooks Onlineby QuickBooks•137•Updated 3 weeks ago
- File sales tax in QuickBooks Onlineby QuickBooks•1805•Updated July 18, 2024
- Adjust sales tax in QuickBooks Onlineby QuickBooks•196•Updated January 29, 2024
- Payroll taxes and formsby QuickBooks•112•Updated January 08, 2024
- Learn the difference between bills, cheques, and expenses in QuickBooks Onlineby QuickBooks•1297•Updated May 16, 2024