Personal Finance

Mutual Fund Interest Earned

  • Last Updated:
  • Mar 30th, 2015 10:26 pm
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Sr. Member
Nov 29, 2006
996 posts
83 upvotes

Mutual Fund Interest Earned

Hey guys,

Quick question. I looked everywhere online but couldn't find an answer.

Interest earned on mutual funds, do I have to report it on line 121 as investment income? even though I did not cash any of it/receive any monies in 2014?
3 replies
Sr. Member
Jul 21, 2003
980 posts
184 upvotes
Are they inside a TFSA or RRSP?
Deal Addict
Mar 3, 2009
1913 posts
1221 upvotes
Ottawa, ON
I don't think I have heard of a mutual fund that pays interest. They can pay dividends. If the dividends are paid into a non-registered account then they become taxable. If the dividends are paid into an RRSP or TFSA then they are not taxable.
Deal Addict
User avatar
Oct 9, 2005
1155 posts
419 upvotes
Toronto
Was this a HISA/HIIA kind of mutual fund? So the distributions were all interest/ordinary income but were reinvested rather than taken as cash? In a non-registered account?

Then yes, you have to report, line 121 of the T1. Numbers should be from the "Interest from Canadian sources" or "Other income" box 13 of T5 slips or box 26 of T3 slips, unless you didn't get a slip (<$50), which you still have to report.
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