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Mhong006
New Member

Tracing the origin of a Turbotax calculated Investment Expense input to line 68080 of 2022 CRA tax return

Hi, I have the same issue. Were u able to figure out how turbotax calculated Line 23200 from the T5?

Tracing the origin of a Turbotax calculated Investment Expense input to line 68080 of 2022 CRA tax return

@Mhong006 Line 23200 of your return is where allowable amounts not deducted anywhere else on your return are entered. If you have foreign income on your T5, and have paid foreign taxes on that income, you might have a Section 20(12) deduction on line 23200 of your T1. This deduction would be whatever foreign tax is not refunded by the Foreign Tax Credit. 

 

This Canada Revenue Agency (CRA) has a list of some other things that may be included on line 23200: https://www.canada.ca/en/revenue-agency/services/tax/individuals/topics/about-your-tax-return/tax-re...

 

If you are still not able to resolve this issue, please contact our phone support team for more assistance. 

 

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