Mortgage interest on a personal residence is not tax deductible in Canada. If you have generated income either through renting out part of your house or operated a business from your home you would need to report the income and expenses on the appropriate schedule.
Mortgage interest on a personal residence is not tax deductible in Canada. If you have generated income either through renting out part of your house or operated a business from your home you would need to report the income and expenses on the appropriate schedule.
Im a farmer. I divorced and paid my wife a sum. I had to get a lender to pay her out.
I pay my lender monthly eg: $600 on interest only!
Do i claim whole amount [social security number removed], $7,200.00 on line 9806?
We need more information to be able to help you. Did you split a farming business with your wife or are you trying to claim personal loan expenses? Was the business in both your names or did you own it solely?
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Thanks in advance for your understanding,
I hope this was helpful