Why transfer my daughters tuition to me?

As per our TurboTax article: Deducting Your Child’s School Tuition From Your Taxes? Your adult child may wonder why they should transfer their tuition deduction when they can carry it forward to a future year. Although there’s no requirement for your child to transfer the tuition deduction to you, there are reasons why transferring it can make sense. “If you’re allowing your adult child to live rent-free while attending college or university, it can be a good way to help offset the cost,” says James Collins, a chartered professional accountant in Toronto, Ontario. “Furthermore, it may be several years until your child graduates from college or university and is able to fully use the deduction.”

For additional information please see our other TurboTax FAQ/articles below.

Have a Student in the Family? Transfer Tuition and Education Amounts With TurboTax 

Claiming a Tuition Amount From Your Child’s College

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