Tax Guide/Deductions
Investment interest and carrying charges
Updated November 4, 2026
You can generally deduct interest on money borrowed to earn investment income, such as interest or dividends. Claim it on Schedule 4 and line 22100.
Some fees for managing non-registered investments may also qualify.
What does not qualify
- Interest on money borrowed for an RRSP, TFSA or FHSA
- Interest on a loan used for personal spending
- Fees for registered accounts
What matters is how the borrowed money was used, not what secured the loan.