Need help with Tax Return 2014 with line # 330 and Line # 331.

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mrautoloader
Member since: Feb 15

Posts: 3
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Posted on: 26-02-15 12:41:36

I am married with no kids and live in Ontario Canada. I spent $2626.68(Medical expenses) in 2014 and I want to report it in my 2014 return but I don’t know whether I have to enter $2626.68 in line # 330 or is there any amount after the calculations that I have to enter in line # 330.

Thanks

dimple2001
Member since: Apr 04

Posts: 2873
Location: Western Hemisphere
Post ID: #PID

Posted on: 26-02-15 13:06:28

You enter the $2626 on line 330, and then do the calculation noted on lines 30 and 31 (the thing about $2171 or 3%, whichever is less).

Only a % of the total medical expense will be allowed to be taken as a credit and the above mentioned calculation determines the allowed amount.

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Dimple2001

mrautoloader
Member since: Feb 15

Posts: 3
Location:
Post ID: #PID

Posted on: 26-02-15 15:16:27

Thank you for your help but What kind of calculation do I have to do?

adamthorat
Member since: Aug 11

Posts: 1041
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Posted on: 26-02-15 15:34:17

Quote:
Originally posted by mrautoloader

Thank you for your help but What kind of calculation do I have to do?

This will help you.

http://www.cra-arc.gc.ca/tx/ndvdls/tpcs/ncm-tx/rtrn/cmpltng/ddctns/lns300-350/330/hw-t-clm-eng.html

dimple2001
Member since: Apr 04

Posts: 2873
Location: Western Hemisphere
Post ID: #PID

Posted on: 26-02-15 15:40:31

Quote:
Originally posted by mrautoloader

Thank you for your help but What kind of calculation do I have to do?

What you need to do is clearly written on the schedule 1 form. Anyway, adamthorat has spelled out for you via the CRA link.

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Dimple2001

mrautoloader
Member since: Feb 15

Posts: 3
Location:
Post ID: #PID

Posted on: 27-02-15 14:25:40

Thank you everyone for your help.

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Need help with Tax Return 2014 with line # 330 and Line # 331.

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