Options for unused tuition fees
If you have unused education and tuition
expenses for the current year, there are several options that you
may consider as to what to do with them from a taxation standpoint.
If applicable, you may:
a) carry them forward to be used in future years
b) transfer them to your spouse
c) transfer them to the person who supports you financially (e.g.,
a parent), or
d) transfer the unused amount to a parent whose return is being
processed separately.
Remember that according to CRA rules, you must claim the
amounts first on your own federal return, to reduce the tax
payable.
To benefit from any of these options, follow these steps:
1. On the "Left-side menu of the Interview tab", select
"Interview setup".
2. On the page appearing on your right, go to the
"Student," group and check the box " Tuition,
education, textbooks, student loans and Canada training credit"
and that required to complete your tax return and click
"Next" at the bottom of the page.
3. Return to the "Left-side menu of the Interview tab",
select the item "Tuition, education, student loans" and on
the page to your right, click on
the plus sign "+" icon to the
right of the line "T2202 Tuition and enrolment certificate*
(TL11A and TL11C) amounts (Line 32300)".
4. If you want to carry forward your tuition fees, on the page
for "Tuition, education and textbook amounts (T2202, TL11A,
TL11C)", in the section "Transfer of unused amounts" go
to the line "Treatment of current year unused tuition amount -
federal» and select the appropriate option from the drop-down
menu to your right.
5. For Quebec residents, under the section "Quebec Schedule
T", go to the line "Treatment of unused Quebec tuition and
examination fees tax credits" and select the option that
applies to your situation from the drop-down menu to your
right.
6. Verify federal Schedule 11 - as well
as Schedule T for Quebec residents - to determine
the amounts to be carried forward in the future.
7. Make sure that you have informed the person to whom you
transfer the unused amount of your tuition.
For more information on tuition fees, please consult the
following links:
For the CRA:
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/transferring-carrying-forward-amounts.html
https://www.canada.ca/en/revenue-agency/services/forms-publications/publications/p105.html
For Revenu Québec:
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-398/
https://www.revenuquebec.ca/en/online-services/forms-and-publications/current-details/in-112-v/
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