Scientist
Mar 25th, 2006, 08:07 PM
I'm claiming student loan interest on my tax return. However, I'm wondering if I was doing it correctly. The student loans come from two sources, canada student loan and a provincial student loan. After some time, those two are consolidated into one loan. Last year I received one statement with the total amount paid to the consolidated loan. This year, for some reason, I received a form that has the break down.
Provincial student loan interest paid: X dollars
Federal student loan interest paid: Y dollars
Total student loan interest paid: Z dollars
There are two places to enter the amount of student loan interest paid, one is a federal tax worksheet, the other on a provincial tax worksheet.
The question is: Do I claim Z dollars on both worksheets, or do I have to claim only X dollars on the provincial and only Y dollars for the federal worksheet??
Last year I claimed Z on both forms, so I'm wondering if I did it wrong before?? Please help!
Provincial student loan interest paid: X dollars
Federal student loan interest paid: Y dollars
Total student loan interest paid: Z dollars
There are two places to enter the amount of student loan interest paid, one is a federal tax worksheet, the other on a provincial tax worksheet.
The question is: Do I claim Z dollars on both worksheets, or do I have to claim only X dollars on the provincial and only Y dollars for the federal worksheet??
Last year I claimed Z on both forms, so I'm wondering if I did it wrong before?? Please help!