- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
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?
Accepted Solutions
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
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.
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
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.