Information attached to a T5 slip from my investment company shows an amount of $279.21 that i paid out in order to buy a bond. Referred to as accrued interest, i Believe. Where do i put that value to receive credit for it? I am sure i have done it before....
If you are referring to the I.M.A. fees on the T5 slip or the Investment fee, you can report them under "Carrying Charges" from the Find engine on the top bar.
I hope this was helpful
I have the same question. A possible answer, is go to forms and select form lookup. Scroll down and find 'interest expenses paid' and there is a line for "paid to earn inv income.
Not totally sure. Would be happier if it said 'paid to earn interest income.', but.....
Hope this helps. I will keep trying to confirm.
I think we are on the same wavelength. I use the 'Forms' method of turbotax. Within that I went to:
1) Tslips, 2) Receipts, 3) Interest expenses, 4) Paid to earn investment income 5) put the $ value on the line. 🙂
Seems to be the best spot.
Thanks for responding.
Sorry I thought your answer was for another question I had which is what I answered back to you about. So that situ was on interest I paid in order to make investment income.
But the original question about accrued interest paid on a bond purchase, I am still trying to confirm. One person who used to work for HR Block said to put it on the 'Other Income, Deductions and Credits' Form, down under the section 'Other Deductions - 23200', on the bottom line for 'Other'. That is what I did last year... didn't hear back that that was wrong but would like to hear officially that is the right spot. Thanks