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posted Apr 5, 2023 10:29:58 AM

Upgrade for No T5 (interest < $50) ???

Why is it that I need to upgrade from Deluxe to Premier for a "No T5 Interest Income" situation due to being interest below $50. This seems like a penalty for not having a lot of interest income. If i had more than $50, I would get a T5, and then get to use Deluxe. 

 

Is there any other way to enter this small interest income with no T5? 

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Moderator
Apr 9, 2023 10:00:31 AM

Bank interest, whether it’s on a T5 slip or not is considered investment income. You would need to use TurboTax Online Premier or higher to report this type of income.