Hello can i declare the interest i paid for my mortgage in 2020 ?

[ayseleren18 · Accepted solution]

Thank you for choosing TurboTax,

Interests paid on a mortgage cannot be deducted unless this mortgage is paid on a property that is used for business. Then you will be able to deduct the business use portion only. As per CRA, if you use your home for your daycare business, you may be able to claim part of the home expenses.

Mortgage interest is one of the expenses that you can deduct if you use your home for your daycare business.

Please visit our TurboTax article on Is Interest Deductible? to learn more about deductible interest.