Question about Education Credits and Carry forwards
Hi guys,
I've been in school forever and have a ton of education credits. About 68G federal and 51G provincial. My income this year is about 63G pre-tax but when I input this into simple tax, it decimates my education credits, leaving only 16G federal to carry over for next year.
I'm looking through the forms and it seems to fit their calculation but I don't really understand how I've used up so many credits?? Please explain if possible!!
Thanks!
I've been in school forever and have a ton of education credits. About 68G federal and 51G provincial. My income this year is about 63G pre-tax but when I input this into simple tax, it decimates my education credits, leaving only 16G federal to carry over for next year.
I'm looking through the forms and it seems to fit their calculation but I don't really understand how I've used up so many credits?? Please explain if possible!!
Thanks!