Investments & rentals | TurboTax® Support

Investors and rental owners

I sold QSBC shares (I am a tax lawyer, and am certain that the disposition qualifies); however, I cannot seem to claim the deduction using the turbotax software. I entered the capital gain, and then the software sets the maximum LCGE deduction at $0.... read more

Investment and Rental Income on TurboTax Canada Standard version

Hi: For many years I have used the Desktop Standard version of TT to handle stock and bond income, Foreign holdings, and a property rental income. As I look to purchase a TT version for the 2024 tax year, Intuit advises the Premier version for handli... read more

Rental property owned by multiple partners - how to enter personal mortgage interest

I am co-owner of a rental property with three other partners, all with equal shares. Each partner has their own mortgage/loan that they used to finance their share of the property. Where can I enter my personal mortgage interest as a deduction agains... read more

Basement Rental expenses and Renovation cost

Hello: We have recently renovated our basement (legal secondary unit/apartment), and the constructions work completed this year (2024). We couldn't rent out the place yet, so there is no rental income for 2024. Since we spent a significant amount of ... read more

Trouble entering rental income and claiming as sole owner

I am a sole owner of the rental condo but after I enter all the expenses, turbo tax seemed to more than double the rental income received

Is the 2024 Premier desktop version capable of claiming the FTC on foreign rental income?

Hi, Just wondering if any new changes to accommodate this in the 2024 version? I called the 1-888 number this morning and the agent advised me to buy the Premier Desktop version. Is the 2024 Premier desktop version capable of claiming the FTC on fore... read more

Not enough lines on T1135 Part B

Hello.I see a number of questions on this topic over the past years, with no action.On the desktop software for tax year 2024, there is still a limit to the number of lines you can enter in the tables in Part B. Will this be fixed THIS TAX YEAR? If n... read more

Re: TurboTax can be used to prepare a tax return for Non-resi...

I am using turbotax online and when I select non-resident S.216 and save it in my profile, it shows up as "Deemed Resident by Section 216 election". In my tax profile, I only select Rental Income, and then it forces me to purchase the self-employed p... read more

I was deemed non resident by the CRA in June 2023. I must enter the date I left Canada so my basic exemption is calculated correctly. Where can I enter this on Turbotax?

I can't find where on Turbotax to enter my departure date, which means that some deductions like my basic exemption are zero, where they should be prorated for the half year I am in Canada. Please help me find where to enter this information.