T5013 Slip Canada: Partnership Income Guide
A T5013 is a bundle of tax allocations, not one income number. The partnership has already classified each item, so enter every code in the matching section of the partner's return.
What to read on the slip
| Box | What it means | Where it goes on your return |
|---|---|---|
| Box 104 | Limited partner's business income (loss), multi-jurisdictional. | Line 12200 (or amount 5A of Form T2125 and line 13500 if the partner code is "5") |
| Box 116 | Business income (loss), multi-jurisdictional. A partner not actively involved reports the net amount on line 12200 instead. | Amount 5A of Form T2125, reported on line 13500 |
| Box 118 | Gross business income, multi-jurisdictional — the gross figure behind box 116. | Line 13499 |
| Box 151 | Capital gains (losses) allocated to you by the partnership. | Line 17400 of Schedule 3 |
| Box 128 | Interest from Canadian sources allocated to you. | Line 12100, via the Federal Worksheet |
| Box 133 | Taxable amount of eligible dividends allocated to you. | Lines 12000 and 12010, via the Federal Worksheet |
| Box 171 / Box 172 | Foreign tax paid on non-business income / on business income. | Form T2209, Federal Foreign Tax Credit |
| Box 040 | Capital cost allowance already used to arrive at the income or loss reported in boxes 114, 116, 120, 122, 124 and 126. | Do not deduct again; used for adjusted taxable income on Form T691 (AMT) |
Frequently asked questions
What is a T5013 slip?
A T5013, Statement of Partnership Income, reports a partner's allocated share of partnership income, losses and other tax amounts for the partnership fiscal period.
Is a T5013 amount the same as cash I received?
Not necessarily. Partnership tax allocations can differ from cash distributions. Report the slip amounts by their codes rather than using only the cash deposited to you.
Does every T5013 amount go on T2125?
No. A T5013 can allocate business income, rental income, investment income, capital gains, foreign amounts, credits and other items. Each code belongs in its corresponding return section.
Can a T5013 show a loss?
Yes, but loss use can be limited by partnership basis, at-risk or other tax rules. A negative amount on the slip is not automatically deductible in full without reviewing those limits.
What if my ownership percentage or allocation is wrong?
Contact the partnership or its authorized filer. The partnership must correct the information return; an individual partner should not silently rewrite the issued allocation.
What is box 104 on a T5013 slip?
Box 104 is a limited partner's business income (loss), multi-jurisdictional. Enter it on line 12200 of your T1 return. If the partner code on your slip is "5," the same amount also goes to amount 5A of Form T2125 and line 13500, using the gross figure in box 118.