Re: Why is only 50% of my mortgage interest amount I entered in the deduction field showing up in the Alternative Minimum Tax under "CCA and carry charges...etc"
Why is only 50% of my mortgage interest amount I entered in the deduction field showing up in the Alternative Minimum Tax under "CCA and carry charges...etc"
Why is only 50% of my mortgage interest amount I entered in the deduction field showing up in the Alternative Minimum Tax under "CCA and carry charges...etc"
Hi there,
If you're still wondering about this question, could you please describe your rental property a bit more. CRA (and the TurboTax software) classify the rental property based on its usage. It is likely that you've shared something for TurboTax to determine how much mortgage interest qualifies for eligible deductions.
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