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New Member
posted Oct 30, 2019 8:06:39 PM

Can I claim previous years interest on investments, assuming they are eligible as per line 221, if I have not previously claimed it?

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1 Best answer
New Member
Oct 30, 2019 8:06:41 PM

Interest earned on investments or interest paid on investment loans needs to be reported in the tax year it was earned or paid.  If this interest is from previous years you will need to do an adjustment to the appropriate year's tax return. This can be done online using your My Account with CRA or using a T1ADJ paper form that would be mailed to CRA.

1 Replies
New Member
Oct 30, 2019 8:06:41 PM

Interest earned on investments or interest paid on investment loans needs to be reported in the tax year it was earned or paid.  If this interest is from previous years you will need to do an adjustment to the appropriate year's tax return. This can be done online using your My Account with CRA or using a T1ADJ paper form that would be mailed to CRA.