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Interest paid on your student loans not showing up


smacdonald

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

 

1- In the "QuikClik Navigator", located on the left-hand side of the screen, select the "Interview setup".

2- Then, on the page that appears on your right in the ''Deduction and credits'' section, check the box for "Education, tuition, textbooks, student loans" and click on "Next" at the bottom of the page.

3- Back in the "QuikClik Navigator", select the "Tuition, education, student loans" and, on the right-hand side, choose the option "Interest paid on your student loan (line 319)".

4 On the page that appears, enter the amount you paid to your bank on the line "Interest paid on a student loan in 2014".

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." 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.

6 For residents of Quebec, if you want to claim or limit your amount, click on the "Fleur de Lys/Maple leaf" icon located to the right of the amount field to obtain the "Value to use for Quebec if different ". Then enter the amount for Quebec. This box will only appear if you have previously entered the federal amount.

 

Enter the amount of interest paid on student loans that you have not yet deducted. You can enter the interest for the current year and any interest on loans carried forward from previous years. The program will claim the deduction this year on line 319 of Schedule 1 of your federal return.

 

For Quebec residents, the program will report the unclaimed amount of previous years on the line "Interest paid on student loans in prior years and not claimed - Quebec (Schedule M)" also, Schedule M will be generated and the amount will be reported on line 385 of the Quebec return.

 

For Quebec residents, Schedule M will be generated and the amount will be transferred to line 385.

 

For more information, please consult the CRA link:

 

http://www.cra-arc.gc.ca/tx/ndvdls/tpcs/ncm-tx/rtrn/cmpltng/ddctns/lns300-350/319-eng.html

 

For Quebec, consult the following link:

 

http://www.revenuquebec.ca/en/citoyen/impots/guide/aideligne/ligne385.aspx

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To be honest I thought my original post made it clear that I entered it in the right location. If the only response I'm going to get is to have the steps that I've already done repeated back to me I'm not too impressed. Seriously considering another product at this point.

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  • 8 years later...
On 4/7/2015 at 8:29 PM, Gaetan said:

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

 

1- In the "QuikClik Navigator", located on the left-hand side of the screen, select the "Interview setup".

2- Then, on the page that appears on your right in the ''Deduction and credits'' section, check the box for "Education, tuition, textbooks, student loans" and click on "Next" at the bottom of the page.

3- Back in the "QuikClik Navigator", select the "Tuition, education, student loans" and, on the right-hand side, choose the option "Interest paid on your student loan (line 319)".

4 On the page that appears, enter the amount you paid to your bank on the line "Interest paid on a student loan in 2014".

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." 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.

6 For residents of Quebec, if you want to claim or limit your amount, click on the "Fleur de Lys/Maple leaf" icon located to the right of the amount field to obtain the "Value to use for Quebec if different ". Then enter the amount for Quebec. This box will only appear if you have previously entered the federal amount.

 

Enter the amount of interest paid on student loans that you have not yet deducted. You can enter the interest for the current year and any interest on loans carried forward from previous years. The program will claim the deduction this year on line 319 of Schedule 1 of your federal return.

 

For Quebec residents, the program will report the unclaimed amount of previous years on the line "Interest paid on student loans in prior years and not claimed - Quebec (Schedule M)" also, Schedule M will be generated and the amount will be reported on line 385 of the Quebec return.

 

For Quebec residents, Schedule M will be generated and the amount will be transferred to line 385.

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For more information, please consult the CRA link:

 

 

Cool, thanks for the schedule, finally figured it out.

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