School Deposit - Tax credit?
I put $1K against a school deposit last year, however pushed the program out a year to 2017. Can I claim this $1K against my 2016 taxes, or does it only become a school fee once the program starts?
- Last Updated:
- Feb 21st, 2017 1:56 am
Tags:
- SCORE
- Steiber [OP]
- Deal Addict
- Jan 10, 2007
- 1709 posts
- 704 upvotes
- Abbotsford
4 replies
- aqnd
- Deal Fanatic
- Apr 20, 2011
- 7747 posts
- 2723 upvotes
- ON
Education credits are issued by the institution on a t2202a - you'll get credit when you actually attend the program.
- Steiber [OP]
- Deal Addict
- Jan 10, 2007
- 1709 posts
- 704 upvotes
- Abbotsford
appreciated. If I end up not attending the program, I know I lose the $1K, but does that almost mean I never get to write it off?
- dutchca
- Deal Fanatic
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- Jan 27, 2007
- 5087 posts
- 960 upvotes
- Peterborough
The education credit is meant as a tax benefit for those attending post secondary education.
No, you would not get a t2202 if you dont attend.
No, you would not get a t2202 if you dont attend.
- Steiber [OP]
- Deal Addict
- Jan 10, 2007
- 1709 posts
- 704 upvotes
- Abbotsford
Thanks