In 2005 I borrowed money from the bank to invest.I transferred into an RRSP generating dividends, capital gains and interest.Can I deduct the interest I pay on the loan?
01691
1 Replies
TurboTaxKim
Level 15
Oct 31, 2019 3:11:53 AM
Any fees paid to manage or interest on loans for Registered Accounts are not deductible as "carrying charges and interest expenses". Registered accounts include RPPs, RRSPs, RRIFs, and TFSAs.