Is Student Grant Taxable/Income

[Swarnim]

I have been using Turbotax for filing my taxes. I always use the auto-populate option from Turbo Tax to pull my tax information from CRA. I am a full time student at college, what ever OSAP grant I received is always populated as my income and income tax is charged on my OSAP grant. I am just confused being a full time student why I should pay taxes on my OSAP grant. Could you please explain me how turbo tax populate the information from T4 that I have received for OSAP grant. So, OSAP grant taxable income for me or not.

[TurboTaxSusan]

On the TurboTax T4A there are multiple spaces for Box 105 (scholarships, grants and similar). When you use Auto-Fill, the Box 105 amount may not go into the correct one, and you will need to change it. You also have to make sure that your student info is entered. 

[Swarnim]

In year 2022 tax file I did not check, trusting turbo tax that it will populate information in right place. So, i have to pay tax on the OSAP grant as total income on the year 2022. Is there any option to claim that money back this year 2023 tax file.

[TurboTaxSusan]

On the actual T4A slip, there is only one Box 105, which could be taxable or not taxable. When you use Auto-Fill to enter the slip, TurboTax has no way of knowing how to treat that amount, especially since this step comes before you enter your student information. 

Aside from this, it's always a good idea to double check any slips that are entered using Auto-Fill, as sometimes the slips themselves are incorrect (even government issued ones).

There are three ways to make corrections to your tax return:
1. through CRA My Account,
2. ReFile using TurboTax,
3. or by mail using a completed Form T1-ADJ, T1 Adjustment Request

Before making any changes to your tax return, please wait until you receive your Notice of Assessment.