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Posted

Hi everyone, I’m hoping someone can help.

I just tried filling out my TurboTax and the program asked if I had an international bank and funding over $10,000. I said yes that I had a bank in Canada but I was unsure what to write in regards to the question about 10 K.

I have a combination of scholarships and grants and loans, and I wasn’t sure if educational funding was considered finances or was exempted. In other words, do I write yes or no in regards the question about 10 K if I had over 10 K in 2021 but it was all from student government and provincial funding? I hope I was clear and thank you.

If you have any additional advice, it is welcome.

Posted

I would encourage you to upgrade to the level where you get to ask a live tax professional if you're unsure of what to do with some of those questions. I am not a tax professional and I can't offer tax advice. You can really run down a rabbit hole on some of those questions. I know that I thought the answer was yes sometimes,  but it turned out that the answer was no when i checked with the CPAs, so you should probably check with someone qualified to answer the question. 

 

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