As a student, scholarships, grants, and bursaries can provide some much-needed financial relief. However, the Canada Revenue Agency (CRA) treats these amounts like income, and you need to report them on your tax return.
Tax tip: If you’re not eligible to claim the federal tuition amount, you’ll only need to report the amount of your scholarships, grants, and bursaries that is over $500.
Example: Judy received a scholarship worth $750 to help pay for a course she is taking, but she does not meet the eligibility requirements to claim the federal tuition amount. As a result, Judy only needs to report $250 of the scholarship amount on her return ($750 - $500).
Where do I claim this?
Follow these steps in H&R Block’s 2017 tax software:
- Under the PREPARE tab, click the IN THIS SECTION icon.
- Under Unused tuition amounts you carried forward from a previous year, interest paid on a student loan, and money received for school (a scholarship, grant, etc.), click the Add This button.
- Click the STUDENTS icon. You'll find yourself here:
- Under the INCOME section, select the checkbox labelled Scholarships, grants, and bursaries.
- When you arrive at the page for the Scholarships, grants, and bursaries enter your information into the software.