QUESTION:
Hello,I have been to your seminars on Thursday's and listen to your show on
Sunday mornings when I can.
I have purchased mutual funds through Dundee and Manulife. I have never
borrowed for investing before. And was wondering where I put that amount on
my tax return?
Thank you
---------------------------------------------
david ingram replies:
Get hold of a full tax return called the T1 General. If it was not sent to
you, get one at the post office.
The interest you paid on your investment loan goes on the line for carrying
charges about half way down the page.
You then take the figure over to line 221 on page three of the return.
Happy deducting - remember, the answer is $4,100 not $5,000.
=============Every Thursday evening Fred Snyder and I hold a free seminar at
Fred's office at 1764 West 7th (corner of Burrard in the Spence Diamond
building) in Vancouver.
The topics are:
Seg funds and an alternative to the traditional RRSP.
Making your mortgage income tax deductible
Critical Care insurance for disasters.
coffee and cookies of course.
Phone 604-731-8900 to reserve your seat -and, you are welcome to bring your
brother, your sister, your mother or father, your children, your best
friend, your worst enemy or your own financial advisor who hasn't explained
how to make your mortgage deductible.
==================
Answers to this and other similar questions can be obtained free on Air
every Sunday morning.
Every Sunday at 9:00 AM on 600AM in Vancouver, Fred Snyder of Dundee Wealth
Management and I, David Ingram host a LIVE talk show called "ITS YOUR
MONEY"
Those outside of the Lower Mainland will be able to listen on the internet
at
www.600AM.com <http://www.600am.com/>
Local calls are taken at (604) 280-0600 and Long Distance calls are taken at
1( 866) 778-0600
Callers to the show are invited to attend free seminars on financial
planning with such specialities as deductible mortgage interest. They are
held at Fred Snyder's Office at 1764 West 7th in Vancouver - (604) 731-8900
for more information.
=========================================
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