Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

0) As Lina pays for all of her schooling including tuition, books, and living expenses, she has decided to let her father know that she

image text in transcribed

image text in transcribedimage text in transcribedimage text in transcribed
0) As Lina pays for all of her schooling including tuition, books, and living expenses, she has decided to let her father know that she will not be transferring the tuition amount but claiming the tuition amount on her tax return which she is ready to file. Lina made $11,500 in her part-time job in 201E]I and is making $12,000 in 2020. How much tuition should claim as a non-refundable tax credit in her 2019 personal income tax return (Federal Tax Return: Schedule 1, line 323)? What is your recommendation for Line? (.5 mark-.25 marks each) Note: Federal education and textbook tax credits were eliminated in 2017. 1i5 2) Response: 1+1 Canada Revenue Agence du revenu Agency du Canada Protected B / Protege B when completed / une fois rempli For student / Pour etudiant T2202 Tuition and Enrolment Certificate Year 1 Certificat pour frais de scolarite et d'inscription Annee Name and address of designated educational institution School type 12 Flying school or club Nom et adresse de retablissement d'enseignement Categorie d'accle Ecole ou dub de pilotage Concordia University+ 14 Student number 15 Filer Account Number Numero d'etudiant Numero de comple du declarant RIZ 15 Name of program or course 21 22 23 Nom du programme ou du cours Number Number Eligible tuition foos, Session From To of months of months periods YY/MM YY/MM part-timel full-time/ part-time and full-timeal Nombre Nombre Frais de scolarite Periodes De admissibles pour Student Name deaudes AAMM AWMM de mors a de mois a Nom de retudiant temps partial temps plain studos a temps partiol et a temps plein Lina Smith 1 19 01 19 12 8 $7,200 Student address 2 Athosse de rotudiant 1000 Guy+ Totals / Totaux 34 Montreal, QC+ Information for students: See the back of Certificate 1. If you want to transfer all or part of your tuition amount, complete the back of Certificate 2 17 Social insurance number (SIN) Renseignements pour les etudiants : Lisez lo verso du certificat 1. Si vous desirez transferer Numero d'assurance sociale (NAS) une partie ou la totalite de vos frais de scolarite, romplissez le verso du certificat 2 See the privacy notice on the next pagem) As Lina's father owes $10,000 to CRA, he has asked Lina to provide him with her T2202 tax form from Concordia. Based on Lina's tuition tax slip below, how much of Lina's tuition can she transfer to her father for him to use on his 2019 Federal tax return? (.25 marks)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Technical Analysis The Complete Resource For Financial Market Technicians

Authors: Charles Kirkpatrick, Julie Dahlquist

3rd Edition

0134137043, 978-0134137049

More Books

Students also viewed these Finance questions

Question

Where does the person work?

Answered: 1 week ago

Question

2. Ask questions, listen rather than attempt to persuade.

Answered: 1 week ago

Question

1. Background knowledge of the subject and

Answered: 1 week ago