Line 9946 - Your net income (loss)
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Line 9946 - Your net income (loss)
On the relevant lines of your income tax return, enter your total gross (from line 8299 - Gross business or professional income in Part 3 of Form T2125, Statement of Business or Professional Activities), and total net (from line 9946 in Part 6 of Form T2125) business or professional income or loss.
Include the total income or loss from all your businesses and professional activities (the total of these lines from all completed T2125 forms).
If you have a business or professional loss that is more than all your other sources of income, you may have a non-capital loss for the year. To apply this loss against income from previous years, complete Form T1A, Request for Loss Carryback, and attach it to your income tax return.
Note
You may have to adjust the figure from line 9946 before entering it on your income tax return. You may have filed Form T1139, Reconciliation of Business Income for Tax Purposes, with your 2015 income tax return. If so, you will probably have to complete the same form for 2016. To find out if you have to file Form T1139, and to calculate the amount of income to report on your 2016 income tax return, see Guide RC4015, Reconciliation of Business Income for Tax Purposes.
Forms and publications
- Guide T4002, Business and Professional Income
- Form T2125, Statement of Business or Professional Activities
- Form T1A, Request for Loss Carryback
- Interpretation Bulletin IT-232, Losses - Their Deductibility in the Loss Year or in Other Years
- Date modified:
- 2017-01-03