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April 18, 2022
Question

Why the amount allowable provincial tuition transfer from my son did not let me to entry max amount on my return? my son want to transfer all max amount to me

  • April 18, 2022
  • 1 reply
  • 0 views
my son wants to transfer all allowable provincial tuition to me say $3000. but when I enter into my tax return, the  turbo tax the max is $2500. Is there a bug?  I still have room to reduct my tax.  Shall I only claim $2500.  the left over $500 for my son to carry forward?

    1 reply

    April 19, 2022

    As per our TurboTax FAQ Frequently asked questions about transferring and carrying forward tuition and education amounts.

    The Canada Revenue Agency (CRA) requires that a student claim any of their tuition fees on their own return first, regardless of who paid them. Once the student’s tax owing is reduced to zero, they can then transfer leftover amounts to their spouse/partner, parent or grandparent, or to their spouse’s parent or grandparent.

     

    Thank you for choosing TurboTax.