Why sign in to the Community?

  • Submit a question
  • Check your notifications
Sign in to the Community or Sign in to TurboTax and start working on your taxes
New Member
posted Apr 21, 2024 7:50:19 PM

carrying costs

First year I am seeing carrying cost listed in return summary - not sure why?  With interest rate much higher this year than 2022 my interest costs doubled from $35K to $70K on the mortgages I have taken out to have rental properties.  Last year 2022 not carrying cost listed in the return - this year about $15K split between my wife and I (co-owners of the rental properties).  Is turbo tax doing this calculation on its own or it is because of something that I have done.  Can I remove it somehow.  Will it flag something with the CRA?

 

Thanks

 

Todd

0 3 1629
3 Replies
Moderator
Apr 22, 2024 10:30:07 AM

Are you using TurboTax CD/Download or TurboTax Online?

New Member
Apr 22, 2024 4:42:45 PM

Turbotax Online

Intuit Alumni
Apr 24, 2024 11:58:33 AM

In order to help you with this situation, we believe your best option is to contact our telephone support team for further assistance, as they have the option to view your screen to help resolve the issue. To contact them, please follow this link: Contact Us. When asked if you wish to receive an email say NO then say "speak to a representative" then hold the line. 

​​​​​​​Thank you for choosing TurboTax.