Investments & rentals | TurboTax® Support

Investors and rental owners

investment funds bought in 2022, then in 2023 the borrowing interest paid $30K, but no investment income. How to entry and carry over the paid expense to later years? Or simply do NOT enter them until next near? thanks

With a new rental property co-owned with wife, do I add 50% or 100% of purchase price to UCC additions on my return?

I bought a rental with wife last year with my wife and we own it 50/50. I recorded it as "co-ownership" on last year's tax return and added 50% of purchase price to UCC on my tax return, not 100%. The revenue and costs seem to be split properly autom... read more

For column 3 of Princ Res Worksheet, a moderator in this forum said the questions should be answered yes, no, no, and blank if the property is sold to a third party.

Why is it necessary to answer the questions in column 3 if the sale is by a husband and wife to a third party, since the questions (per the heading) are supposed to be related to a disposition "to your spouse/partner"? If the property was sold to a t... read more

Can you claim flood damage to your house that you paid outside of an insurance claim. Such as digging around the perimeter of your house, sealing, new sump pump?

How to file Foreign rental property with Foreign tax credit

Using TurboTax for more than 6 years. Usually I filed my foreign rental income with T776 and claiming the foreign Tax credit withT2209 by filling Foreign Slip with Other Income (which will not add up to my Income).This year, it adds to my total incom... read more

I need help submitting my tax return through Turbotax to net file and submitting foreign income as I’m currently living in NZ, but had Canadian and NZ income last year.

Says Netfile won’t let me submit because of the foreign income, so how do I submit my tax return through turbotax?

The turbotax I bought and installed is not working property. There are entries and values that I did not enter and don't make sense to me. What is the problem?

The issue is that turbotax is showing amounts I did not enter and do not make sense to me. What to do? Is the program faulty?

Are admin/management fees from my financial institution (RBC, Wealthsimple) "investment expenses"?

I applied to increase my HELOC in order to purchase stocks. Can I claim both the legal fees and appraisal fees as investment expenses?

HELOC, leveraged investing, legal fees, appraisal fees

The Turbo Tax's Foreign Tax Credit form's line 43300 non-business income is default to blank , which cannot be changed to my income.

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How to carry 2023 investment expense to next year?