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Spousal Loan Interest Income
Hello,
Would I report Spousal Loan interest income (Interest paid to you under a spousal loan you wrote) under "Other interest income not included on a T slip" or, "Other income - I Received other income not reported anywhere else"?
Thanks!
March 21, 2023
4:04 PM
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Investors and rental owners
If you are using TurboTax Online, please do the following:
- Use the Find tool 🔍 and enter “invest” in the search bar
- Select “Investments” from the search results, then click the Go button.
- Check off “Interest and Other Investment Income” and click Continue until you get to the “Interest and Other Investment Income - Summary ”. There you can enter your Interest income.
But please make sure that you are aware of the rules of attribution, and that your loan doesn't run afoul of them: https://www.canada.ca/en/revenue-agency/services/forms-publications/publications/it511r/archived-int...
March 25, 2023
4:28 PM