I'm looking to use my unclaimed university credits from previous years in order to maximize my return so that I can start some investments. I want to properly claim them with the correct forms, how do I do so ?
You must claim your T2202A tuition amounts the year the T2202A was issued. In the same year, it must be used to offset any taxes you have payable. If there is any amount left, it will be carried forward throughout the years until it is used up. You can’t choose when to use your tuition, though you can transfer some to a spouse, parent or grandparent in the year you first claim it.
So to use your 2015, 2016, and 2017 T2202A tuition amounts, you must adjust the returns for those years, starting with 2015. Then you can add any amounts carried forward to your 2018 return, as well as your 2018 T2202A.
Here is how to claim tuition fees in TurboTax: https://turbotax.community.intuit.ca/replies/2647973
You can make changes after you have filed your tax return through the CRA or through ReFILE: https://turbotax.community.intuit.ca/replies/2647992
But what if my first ever tax return been filed in 2019 (the one and only so far). I have unfiled T2202A forms for 2017, 2018 and 2019. I cant adjust my tax returns for previous years because there are no tax returns for previous years to begin with. Can I file all of them in 2020? Can I ReFile my T2202 for 2019 tax return (add it), the only one I ever had? What about 2017 and 2018? Are those money lost forever?
Yes, you can file previous years' returns. Use this link to choose which year you are filing for https://turbotax.intuit.ca/tax-software/prior-year-taxes.jsp
CRA asks that you should report the tuition fees on the year they were incurred even if you didn't have any income to report. The reason is that the laws about how to claim the credits, the type of credits you can apply for, the eligibility for transfers, the provincial credits, etc. changes every year.
I hope this was helpful