How do I fill the income as a bursary. I was doing a fellwoship in a university, my colleagues didnt get taxed too much... Tks!

[zo mohammady]

 Bursary and other academic awards are considered income and must be reported on your return. However, you can reduce the taxable amount of this income if you meet eligibility requirements for the scholarship exemption.

TurboTax automatically calculates your exemption (the amount you won't be taxed on), from the information you enter in the appropriate box 105- Please read the information beside each box 105 in the TurboTax software so that you enter your bursary in the correct one. The remaining (taxable), amount is then included in the Other Income section on your tax return.

TurboTax Online:

1. Select Find (or the magnifying glass icon) from the TurboTax menu*.
2. In the Find window, type in T4A and select T4A Pension, Retirement, Annuity. Then, select Go.
3. Select Enter New T4A.

TurboTax CD/download:

1. Select Find (or the magnifying glass icon) from the TurboTax menu*.
2. In the Find window, type in T4A and select T4A Pension, Retirement, Annuity. Then, select Go.
3. On the Entering your federal T-slips screen, select the box next to T4A.
4. Select Continue until you reach the T4A Summary screen.
5. Select Enter New T4A.

 * If you don’t see the Find button, you may not have completed the Setting Up/Introduction section of your return. Continue through the Setting Up section until the Find button appears.

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