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New Member
posted Oct 30, 2019 12:10:08 AM

Student loan interest is not deducted

I added my student loan interest paid but it says amount claimed for 2016 is 0? Why isn't it deducting it?

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1 Best answer
New Member
Oct 30, 2019 12:10:09 AM

If you do not have income tax payable in 2016 the deduction available for your student loan interest has been set up as a carry forward for future use. This will be reflected in your total carry forward information tracked by CRA and available at "MyAccount" online.

3 Replies
New Member
Oct 30, 2019 12:10:09 AM

If you do not have income tax payable in 2016 the deduction available for your student loan interest has been set up as a carry forward for future use. This will be reflected in your total carry forward information tracked by CRA and available at "MyAccount" online.

New Member
Oct 30, 2019 12:10:11 AM

Okay, looking at my return, it looks like I only owe money to contribute to the CPP. So I guess that's why. Thanks!

New Member
Oct 30, 2019 12:10:12 AM

You are welcome.