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How do I zero out line 121 if I can't find any input numbers?

I have removed all T5 input and still get 2295 on line 121.  How do I get that to zero?

1 Best answer

Accepted Solutions

How do I zero out line 121 if I can't find any input numbers?

Interest and other investment income can include bank interest, Guaranteed Income Certificates (GICs), treasury bills, Canada Savings Bonds, or foreign interest & dividends. Line 121 also includes any interest paid by CRA on last year’s tax refund and earnings on certain types of life insurance policies.

Line 121 amounts transfer from a number of places in your return:

T Slips

·         Boxes 13, 14, 15, and 30 from your T5 slips

·         Box 25 from your T3 slips

·         Boxes 128 and 135 from your T5013

·         Information from your T5008 (for investment income only such as the disposition of a mature Treasury bill).

To review and confirm the source amounts for interest and other investment income:

1.       Select X in the upper-right corner to close the Help window.

2.      In the upper-right corner of your screen, select Find.

3.       In the Find window, type the T Slip you want to review (ex T5).

4.      Select the T slip from the list, and select Go.

Line 121 may also contain bank interest under $50 (not on a T slip), CRA interest amounts, and some foreign interest income.

To review and confirm the source amounts for interest and other investment income:

1. Select X in the upper-right corner to close the Help window.

2. In the upper-right corner of your screen, select Find.

3. In the Find window, type Interest on Bank Accounts.

4. Select Interest on Bank Accounts Not Reported on a T slip from the list, and select Go.

Note: If you have chosen to split interest and other investment income with your spouse, line 121 will reflect the split amount, not the full amount.


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1 Reply

How do I zero out line 121 if I can't find any input numbers?

Interest and other investment income can include bank interest, Guaranteed Income Certificates (GICs), treasury bills, Canada Savings Bonds, or foreign interest & dividends. Line 121 also includes any interest paid by CRA on last year’s tax refund and earnings on certain types of life insurance policies.

Line 121 amounts transfer from a number of places in your return:

T Slips

·         Boxes 13, 14, 15, and 30 from your T5 slips

·         Box 25 from your T3 slips

·         Boxes 128 and 135 from your T5013

·         Information from your T5008 (for investment income only such as the disposition of a mature Treasury bill).

To review and confirm the source amounts for interest and other investment income:

1.       Select X in the upper-right corner to close the Help window.

2.      In the upper-right corner of your screen, select Find.

3.       In the Find window, type the T Slip you want to review (ex T5).

4.      Select the T slip from the list, and select Go.

Line 121 may also contain bank interest under $50 (not on a T slip), CRA interest amounts, and some foreign interest income.

To review and confirm the source amounts for interest and other investment income:

1. Select X in the upper-right corner to close the Help window.

2. In the upper-right corner of your screen, select Find.

3. In the Find window, type Interest on Bank Accounts.

4. Select Interest on Bank Accounts Not Reported on a T slip from the list, and select Go.

Note: If you have chosen to split interest and other investment income with your spouse, line 121 will reflect the split amount, not the full amount.