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New Member
posted Oct 31, 2019 5:09:15 AM

Can i put the student line of credit interest under the student loan section?

i am trying to figure out if student loan and student line of credit should have similar behaviours when submitting taxes

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1 Replies
New Member
Oct 31, 2019 5:09:16 AM

Unfortunately, a student line of credit is not eligible for a tax credit. Only student loans distributed under the following programs are eligible for a tax credit: 

  • The Canada Student Loans Act
  • The Canada Student Financial Assistance Act, and
  • An equivalent provincial or territorial government law

Please see these articles for further information: 

https://turbotax.intuit.ca/tips/who-is-eligible-for-student-loan-interest-tax-credit-5582

https://turbotax.intuit.ca/tips/claiming-student-loan-interest-on-your-tax-return-5588