Doing 2015- then 16 & 17. Why is Turbotax taking a partial amount ($284) from unused prior year tuition amount but IGNORING large medical deduction (about 2500 on tax summary) completely?? The $284 brings taxable income precisely to zero. When I take out the medical, tax=0. But why can't I USE the medical? There is no way to control the tuition claim or erase it.
Medical: $2333 expense comes from Box 135 of T4A (Pension, Retirement, Annuity)— private plan premiums. $646 from dentist (June 2015). Almost $3K expense, 2550 "deduction" per tax summary. It won’t help to shift medical expenses to 2016 as income is so low. (BTW-- Is it possible to choose claim window for the T4A medical amount and shift 2017 into 2018?).
Net income is almost 14K (3% is about 415). I would rather save the tuition amount for 2018. I can’t find any way to erase the claim and don’t understand why the software is not recognizing the medical.
Thanks.
When you have tuition amounts that have been carried forward, CRA rules state "you have to claim this amount in the first year you have to pay income tax". This means even if you wish to use another Non Refundable Tax Credit (NRTC) such as medical or donations, to reduce your tax payable, you cannot until your available tuition is used first. This is why there is no option available in the software to claim the medical expenses over the tuition.
You should be aware that CRA keeps track of your education/tuition credits and will apply the amounts you have carried forward whether you do so or not and without factoring in your donations and medical expenses. Even if you were to remove these amounts from your tax return and try to apply the medical claims, CRA would automatically use what was needed and carry forward the leftover amounts.
* For the Box 135 Medical Premiums on your T4A, there is no option to change the dates on a T slip. :(
When you have tuition amounts that have been carried forward, CRA rules state "you have to claim this amount in the first year you have to pay income tax". This means even if you wish to use another Non Refundable Tax Credit (NRTC) such as medical or donations, to reduce your tax payable, you cannot until your available tuition is used first. This is why there is no option available in the software to claim the medical expenses over the tuition.
You should be aware that CRA keeps track of your education/tuition credits and will apply the amounts you have carried forward whether you do so or not and without factoring in your donations and medical expenses. Even if you were to remove these amounts from your tax return and try to apply the medical claims, CRA would automatically use what was needed and carry forward the leftover amounts.
* For the Box 135 Medical Premiums on your T4A, there is no option to change the dates on a T slip. :(
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