How do I expense a training course as a business expense on my return for a business partnership registered after the course was already taken. Business hasnt made revenu

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June 17, 2022
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How do I expense a training course as a business expense on my return for a business partnership registered after the course was already taken. Course taken Dec 2021, Business partnership officially registered Feb 2022. Business hasn't made revenue yet as I'm still in the process of ordering stock. But expenses have occurred. I I should add I have already submitted my return, so this will be a refile. Thank you

tulip991

If it was training for a new skill, it would be considered a “capital expense” and you might be able to claim it as a tuition expense if you have a T2202, TL11 or another eligible receipt. To do this in TurboTax Online, select Deductions > Students > Student Profile from the left side menu. Check off “Tuition fees on a receipt, T2202, or TL11”, then click the “Continue” button.

If the training was to improve or update an existing skill, then it would be considered a “current expense” and then you can enter the amount in the "Other Expenses" section under Employment Expenses. This is at the end of the Expenses section in the Self-Employment part of the Interview.

For more information about capital and current expenses for self-employment, please visit the Canada Revenue Agency (CRA) webpage, Self-Employment Business-Expenses.

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