Mortgage interest payments

[suzyqd]

Where do i claim the mortgage interest payments on my primary residents?

[TurboTaxTerry · Accepted solution]

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.

[MH Farm]

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? 

[TurboTaxHeba]

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? 

For questions for which personal information must be exchanged, you can contact us by phone or private message on our Facebook and Twitter social networks. 

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Thanks in advance for your understanding, 

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