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March 16, 2023
Question

Turbo Tax is not letting me proceed with using the Premier package and suggesting I need the Self Employed? I’m a senior with CPP and OAS on income reported.

  • March 16, 2023
  • 1 reply
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States”to report business/professional fees (T4A) you need to upgrade. Makes no sense for CPP and OAS

    1 reply

    March 17, 2023

    TurboTax offers different versions of software, each designed to meet the needs of specific groups of taxpayers. The Premier version is designed for those who have investment income, rental property income, or capital gains. The self-employed version is designed for those who are self-employed, have a side hustle, or are independent contractors.

    When you enter information about your income and deductions in TurboTax, the software will ask you questions to determine which version is best suited for your situation. If the software determines that the self-employed version is more appropriate based on your answers, you will be prompted to upgrade.

     

    As per our TurboTax FAQ: if you received a T4A (Statement of Pension, Retirement, Annuity, and Other Income) slip with amounts in box 20 or 48, you are indeed self-employed for tax purposes as both of these boxes are used exclusively to report self-employment income

     

    For further assistance, please follow this link: Contact Us

     

    Thank you for choosing TurboTax.