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Monday, February 16, 2015

Learning more about income tax - the college edition

A couple weeks ago I had a text from DS's roomie's mom saying that they had received their tax form from College. They wondered what I did for taxes, given that DS is in another country. Darn good question.

I waited these past two weeks to see if our form was coming, allowing time for international mail. Nada.

So today I called down there to find out the details. Apparently I do not get a form mailed to me. We have to send down a form to them to complete. DS fills in the pieces he needs to, to transfer any tax credits he can't use, over to me. Good thing I called.

Tomorrow I will call either Revenue Canada or an account to find out additional details, just in case there are more forms. Then I have to only send one set of forms down to his college to fill in.

I still have  a lot of questions about how we will do taxes....how does his scholarship affect his taxes?
It says he can transfer up to $5000 to me after his taxes are done. Does that mean $5000 Canadian or $5000 USD?  things like that.

I am glad we have this week off school so I can take care of as many questions as possible.

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