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posted Oct 30, 2019 5:11:48 AM

I want to claim interest charges for in investment loan made for the purpose of investing in mutual funds or securities

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Level 5
Oct 30, 2019 5:11:49 AM

To claim interest on an investment loan, go to Income > Investment expenses and select  "Interest paid to earn interest, dividend and royalty income".

Please note that you may only make this deduction if you expect to receive interest, dividend and/or royalty income from the mutual funds.  If your sole expectation of income is capital gains, you may not deduct the interest.

1 Replies
Level 5
Oct 30, 2019 5:11:49 AM

To claim interest on an investment loan, go to Income > Investment expenses and select  "Interest paid to earn interest, dividend and royalty income".

Please note that you may only make this deduction if you expect to receive interest, dividend and/or royalty income from the mutual funds.  If your sole expectation of income is capital gains, you may not deduct the interest.