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2007 Canadian Taxes - Scholarship Deductions?


As far as I know, last year, one did not have to claim scholarship ammounts not exceeding $3000 -- they were tax deductable. Now, my question is, for the year 2007, is it possible to subtract $3000 from one's current scholarship amount which exceeds $3000?

Example: I received $5000 in scholarship money (not an Artist's Project Grant, or a Fellowship, etc... just a simple scholarship for a university student -- not an entering highschool graduate). Am I able to subtract the maximum $3000 limit from my $5000, and thus only write $2000 on line 130 (Other Income) on my T1 (my income tax form)?

Thank you

http://www.cra-arc.gc.ca/tax/individuals... . . . this is the link to the Canada Revenue Agency page that offers up the details needed.

dunno

For your 2007 return, do you have a T2202a (for tuition amounts)? If you do and it shows either part time or full time months attended then the entire scholarship is tax free because you get the education amount. If you do not have an education amount then the entire thing is taxable.
But make sure there is a 05 in the foot note code part. If not maybe contact the place it came from to make sure it is not an error. If there is no footnote code 05 then it is not a scholarship, grant or bursaries and it is taxable income..

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