Line 22100 – Carrying charges, interest expenses, and other expenses

Note: Line 22100 was line 221 before tax year 2019.

Claim the following carrying charges and interest that you paid to earn income from investments:

Note

If the only earnings your investment can produce are capital gains, you cannot claim the interest you paid.

Note

Legal fees you incurred to try to make child support payments non-taxable must be deducted on line 23200 of your return. For more information, see Guide P102, Support Payments.

Policy loan interest
To claim interest paid during the year on a policy loan made to earn income, ask your insurer to complete Form T2210, Verification of Policy Loan Interest by the Insurer.

Refund interest
If the CRA paid interest on your income tax refund, report the interest on line 12100 of your return in the year that you received it. If the CRA then reassessed your return and you repaid any of the refund interest in 2021, you can claim, on line 22100 of your return, a deduction for the amount you repaid up to the amount you had reported as income.

You cannot deduct any of the following amounts on line 22100 of your return:

If you have a tax shelter, see Other amounts you have to report on your return.

Completing your tax return

Claim on line 22100 of your return your total carrying charges, interest expenses and other expenses.

If you have carrying charges for Canadian and foreign investment income, complete the chart for line 22100 using your Federal Worksheet.

Keep all your documents in case the CRA asks to see them later.

Forms and publications

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