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April 28, 2024
Question

I am filing my taxes for first time, should I carry forward tuition tax credit or transfer to my parents?

  • April 28, 2024
  • 1 reply
  • 0 views
Both my parents have a tax refund for 2023 and have 0 tax obligation and 0 refunds

    1 reply

    TurboTaxSusan
    April 28, 2024

    If you don't need to use your tuition to reduce your taxes payable, then your tuition will automatically be carried forward.

     

    If your parents are both getting tax refunds, then they can't use your tuition. It will just be lost if you transfer it to them.