Partnerships don’t pay income tax. Instead, each partner reports their share of the partnership’s net income or loss on their own return. Your T5013 slip shows the different amounts that might need to be reported.
You must do this whether the share of income was received in cash or as a credit to one of the partnership’s capital accounts.
If your partnership had at least 5 partners, you’ll receive a T5013 slip.
To add your T5013 to your return:
- Type “T5013” in the search box and add the Partnership Income section to you return.
- Add all boxes from your T5013.
- For a complete list of the T5013 boxes, their descriptions, and how each box is included in your return, see the T5013 Instruction page