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angc228
Returning Member

I am a full-time student who received a bursary from my post-secondary institution. Since TurboTax has 5 Box 105s, which one should I enter for my bursary information?

 
1 Reply

I am a full-time student who received a bursary from my post-secondary institution. Since TurboTax has 5 Box 105s, which one should I enter for my bursary information?

Which box you will enter your amount in, will depend on if you received a T2200 with months in box 25 and if yes, it will go into the first box 105 otherwise you will enter the amount in the 5th box 105 which says "Other scholarships, grants, awards, etc: taxable – eligible for $500 exemption". 

 

As per CRA - 

If you are considered a full-time qualifying student for 2018, 2019, or 2020, post-secondary school scholarships, fellowships, and bursaries received are not taxable up to the total amount required to support you in the program.

To determine what portion of your award was intended to support your enrolment, you should consider such factors as:

  • the duration of the program
  • any terms and conditions that apply to the award
  • the period for which support is intended to be provided by the award