box 105

[Shali]

Hello,

 

I am going to fill my forms and there is a code of 14 and 105 on my T4A. but I cannot find where I should put that. Last year, I entered the value in "T4A and pension income" but it seems that the option is removed for 2020. Do you have any idea how and where I should fill it out?

 

Thanks

[Nawal]

Hi @Shali, please follow the steps below:

1. On the "Left side menu on the Interview tab" select the "Interview setup".

2. On the screen that appears on the right, go to the "Pension" group, check the box "Pension income, others income and split pension income (T4A, T4A(OAS), T4A(P), T4A-RCA, T4RSP, T4RIF, T1032)", and click "Next" at the bottom of the page.

3. Return to the "Left side menu on the Interview tab" and select "Pension income T4A".

4. On the page appearing to your right, click on the plus sign "+" icon to the right of the line "T4A - Pension, retirement, annuity and other income".

5. On the page that appears, go to the line "Other Information (click on the triangle to see the list of choices)" located in the middle of the page. Then, from the drop-down menu, choose "(105) Scholarships, bursaries, fellowships" and enter the amount that appears on your T4A slip.

[txguy]

Hi Nawal,

I have exactly the same problem. I saw this as an old post. Is this problem answered/fixed?

The procedure as you mentioned above is followed. And I understand that if one does not qualify for full time university student, then any scholarship above $500 is taxable.

However, the question is for full time university student with a scholarship, let's say $6500.00. All $6500 should be tax exempt. So it should not be taxed.

Now what happed is this: If you fill the form T2202 and choose "(105) Scholarships, bursaries, fellowships", the exemplified $6500 is taxed as $6000 in the line of 13010. THIS IS NOT CORRECT.

Scholarship of a fulltime university student is tax free.

More importantly, how do we fix this as a user? please help, thanks. I guess I am asking you this question, because, as shown, you are the administrator. Thanks.

[Curmudgeon]

This problem is usually caused by not filling out the T2202 correctly. Double check everything including that the person is shown as a full time student.

[JKMP]

For OSAP loans which category go we put them in?

[Geo123]

Hello JKMP,

Enter the amount of interest paid on student loans that you have not yet deducted. You can claim the interest for the current year and any interest on loans carried forward from previous years.

For Quebec residents, enter the unclaimed amount from previous years on the line "Interest paid on student loans in prior years and not claimed - Quebec (Schedule M)"

Please consult both your federal and Quebec notices of assessment to determine the amount you can claim from previous years.

To enter the amount of interest paid on student loans, please follow the steps below:

1. On the "Left-side menu on the Interview tab", select the "Interview setup".

2. Then, on the page that appears on your right, go to the "Student" group, check the box for "Education, tuition, textbooks, student loans and Canada training credit" and click on "Next" at the bottom of the page.

3. Return to the "Left-side menu on the Interview tab", select the "Tuition, education, student loans" and, on the right-hand side, choose the option "Interest paid on your student loans (line 31900)".

4. On the page that appears, enter the amount you paid to your bank on the line "Interest paid on a student loan in 2022".

5. If you want to limit the amount of interest paid and carry forward the remainder to another year, enter the amount claimed this year on the line "Limit the amount of student loan interest claimed."

6. For residents of Quebec, if you want to claim or limit your amount, click on the "Maple leaf" icon located to the right of the line to generate a new field for the Quebec amount. Then, enter the amount for Quebec. This box will only appear if you have previously entered the federal amount.

The unused portion can be carried forward to be used in future years. The program will report this information in the "Summary of carryforward amounts" in the "Tax return" tab.

The program will claim the deduction this year on line 31900 of your federal return.

For Quebec residents, Schedule M will be generated, and the amount will be carried over on line 385 of the Quebec return.

For more information, please consult this CRA link:

https://www.canada.ca/en/revenue-agency/services/tax/individuals/topics/about-your-tax-return/tax-return/completing-a-tax-return/deductions-credits-expenses/line-31900-interest-paid-on-your-student-loans.html

For Quebec, consult the following link:

https://www.revenuquebec.ca/en/citizens/income-tax-return/completing-your-income-tax-return/completing-your-income-tax-return/line-by-line-help/350-to-398-1-non-refundable-tax-credits/line-385/

[ccad123321]

(content deleted. i was answering another thread somehow ended up here after i register the account.)