Scholarships, grants, or bursaries not reported on a slip
As a student, scholarships, grants, and bursaries can provide some much-needed financial relief. However, the Canada Revenue Agency (CRA) treats these amounts like income, and you need to report them on your tax return.
Generally speaking, these amounts are shown on either a T4A or RL-1 slip. But even if they aren’t, you still have to report them on your return.
Tax tip: If you’re not eligible to claim the federal tuition amount, you’ll only need to report the amount of your scholarships, grants, and bursaries that is over $500.
Example: Judy received a scholarship worth $750 to help pay for a course she is taking, but she does not meet the eligibility requirements to claim the federal tuition amount. As a result, Judy only needs to report $250 of the scholarship amount on her return ($750 - $500).
Follow these steps in H&R Block’s 2024 tax software:
-
On the left navigation menu, under the Credits & deductions tab, click Tax Topics.
-
Select the Tuition exam fees & student loans checkbox.
-
Click the Students tab on the left navigation menu.
- Under the INCOME heading, select the checkbox labelled Scholarships, grants, and bursaries.
- When you arrive at the Scholarships, grants, and bursaries page, enter your information into the software.