Heydaze Posted April 4, 2022 Report Share Posted April 4, 2022 My son paid for university courses for in full for 2021 & 2022 school years. From RESP Why can't he claim that amount for 2021. He's being taxed on the full amount of RESP for 2021. And was used to pay full tuition. What is the work around here. Quote Link to comment Share on other sites More sharing options...
Curmudgeon Posted April 4, 2022 Report Share Posted April 4, 2022 Maybe his income is too low. If he's not paying tax the education credit will carryforward unless it is transferred. Quote Link to comment Share on other sites More sharing options...
Heydaze Posted April 4, 2022 Author Report Share Posted April 4, 2022 It’s coming up as he owes. The resp withdrawal is taxed in full for 2021. but the university only put not even half the amount that was paid. I’m assuming because the other classes started in 2022. But we already paid for them back in Aug. frustrating…. Quote Link to comment Share on other sites More sharing options...
TheTaxSmith Posted April 5, 2022 Report Share Posted April 5, 2022 The tuition amounts are issued on a slip based on the year for which the courses are given. The amount he paid will be allocated based on the year in which he took the course. The RESP funds however were all withdrawn in one year so they will be taxed on the basis of the year they were withdrawn regardless of how they were spent. Your son only gets tuition credits for courses in the year he takes them. He will get a deduction for the 2022 courses in the 2022 income tax year. He can't get a credit for courses not yet taken. What if he decided to quit and not take the courses? The university would then issue a refund for the courses he didn't take. Quote Link to comment Share on other sites More sharing options...
Dan. C. Posted March 24, 2023 Report Share Posted March 24, 2023 How to claim expenses on school books and equipment which are mandatory for a course but T2202 does not show? Quote Link to comment Share on other sites More sharing options...
Geo123 Posted March 24, 2023 Report Share Posted March 24, 2023 Hello Dan. C., The federal education and textbook tax credits were eliminated in 2017 Unused textbook amounts from years prior to 2017 can be carried forward. 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-32300-your-tuition-education-textbook-amounts/textbook-amount.html Quote Link to comment Share on other sites More sharing options...
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