Turbotax: Interest Income & Investment Income

 
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Q: Where and how do I report Interest Expenses on Investment Income?
A: As shown in the video...
1. Declare you have interest expenses on your tax profile
2. Enter amounts for interest expenses under Investment Expenses for easy steps
3. Verify this amount on Line 221 and schedule 4

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Relevant Material: "

Investment income

Find out about reporting income earned through investments such as interest, dividends and capital gains.

Types of investment income

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Relevant Material: "

Line 12100 – Interest and other investment income

Interest and other investment income form part of your total income and must be reported on your return.

Interest, foreign interest and dividend income, foreign income, foreign non-business income and certain other income are all amounts that you report on your return as interest and other investment income. They are usually shown on a T5 slip, T3 slip and T5013 slip.

You may not receive a T5 slip if the investment income is less than $50, but you must still report the income.

You also have to report the interest on any tax refund that you received in 2024 as shown on your notice of assessment or reassessment..." (Line 12100 - Interest and other investment income - Canada.ca)

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