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R
r0se5
March 28, 2023
Question

How do I claim income from renting indoor parking in my condo?

  • March 28, 2023
  • 1 reply
  • 0 views
I am not renting out as a business. But I think I should claim money as added income.

    1 reply

    K
    katherinetax
    April 5, 2023
    If you've made less than CAD 3,500, you may report this income as "occasional earnings". 

    TurboTax Online Instructions:

    1. Go to the left side menu ≡ and click: Income > Other Income Sources > Income not reported on a T-Slip

    2. Check the box: Received tips, gratuities, occasional earnings, or other employment income

     

    As per the Canada Revenue Agency (CRA), if you exceed $3,500, you must report this as self-employment income and pay CPP contributions on it. 

     

    Thank you for choosing TurboTax.

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