Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
English EN

Pick a language

Canada Français United States of America English
cancel
Showing results for 
Search instead for 
Did you mean: 
esalamatov
New Member

My investment income is less than $50 and that is why I didn't receive a T5 form. The CRA website states I should still claim it on line 121. How can I do it?

 
1 Best answer

Accepted Solutions
Mohammed-TurboTax
New Member

My investment income is less than $50 and that is why I didn't receive a T5 form. The CRA website states I should still claim it on line 121. How can I do it?

Line 121 leads me to believe it is interest income. Go to Income > Investments > Interest on bank accounts not reported on t slip. See attached screenshot. This will populate the amount on line 121.

View solution in original post

7 Replies
Mohammed-TurboTax
New Member

My investment income is less than $50 and that is why I didn't receive a T5 form. The CRA website states I should still claim it on line 121. How can I do it?

Line 121 leads me to believe it is interest income. Go to Income > Investments > Interest on bank accounts not reported on t slip. See attached screenshot. This will populate the amount on line 121.

lidiabad
Level 2

My investment income is less than $50 and that is why I didn't receive a T5 form. The CRA website states I should still claim it on line 121. How can I do it?

Hi.  I have used this tip, but it won't allow me to access the line for 121 etc. without upgrading my Turbotax Standard/Deluxe to Turbotax Premium.  Is this a bug??  I have always used Standard (called Deluxe this year), and it seems very unnecessary to upgrade simply because I have not collected enough interest for the bank to generate the T5.  How do I get around this?

 

Thank you!

TurboTaxSusan
Moderator

My investment income is less than $50 and that is why I didn't receive a T5 form. The CRA website states I should still claim it on line 121. How can I do it?

@lidiabad There have been changes made to TurboTax Online. To enter any kind of investment income (including interest) on your return, you will need to use TurboTax Premier Online or higher. Please see this TurboTax FAQ for more information: Why did I have to upgrade my TurboTax Online edition?

jtah
New Member

My investment income is less than $50 and that is why I didn't receive a T5 form. The CRA website states I should still claim it on line 121. How can I do it?

Hi Susan,

Thanks for replying to the above message. I am a bit confused, I received less than $50 interest on my savings account this year, therefore no T5, and therefore I need to enter investment income manually. So to report this <$50 income, I need to spend $69.98 for TurboTax Premier??? Been using Turbotax for years but certainly will not use it anymore if that is the case.

Thanks for your answer.

JT

TurboTaxGinette
Moderator

My investment income is less than $50 and that is why I didn't receive a T5 form. The CRA website states I should still claim it on line 121. How can I do it?

Unfortunately, to enter any kind of investment income (including interest) on your return, you will need to use TurboTax Premier Online or higher. 

Thank you for your feedback.

KotkaN1eagle
New Member

My investment income is less than $50 and that is why I didn't receive a T5 form. The CRA website states I should still claim it on line 121. How can I do it?

i bought the standard version from a store...went to do my taxes...cannot enter small amount of interest income without upgrading at a cost of $69.98...i already spent $34.99 on the box.  I was told i cannot apply my purchase code to reduce the charge...This is unfair business practice...there should be credit for the money I already spent. liz

Tucker67
Level 1

My investment income is less than $50 and that is why I didn't receive a T5 form. The CRA website states I should still claim it on line 121. How can I do it?

I completely agree with your comment and TurboTax (Intuit) has just lost lots of customers for this poor business practice! Definitely my last year using it.

v