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davidwu99
April 10, 2022
Question

Hello, I'm having mortgage for my first house which I'm living in (not a rental house). Where should I put the interest of this mortgage for deduction? Thank you.

  • April 10, 2022
  • 1 reply
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    1 reply

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    _krups_2938
    April 11, 2022

    It is mentioned by Canada Revenue Agency, "Interests paid on a mortgage cannot be deducted unless this mortgage is paid on a property that is used for business. Then you will be able to deduct the business use portion only.

     

    For more information about the mortgage interest visit this page from Canada Revenue Agency: - Line 8710 – Interest and bank charges 

     

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