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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

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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

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