mattgc46
Returning Member

Can i deduct an amt of tuition tranferred to me from my FT student child if the tuition was paid from a Tuition fund i contributed to for the last 20+ years?

 

Seniors and students

Yes, you can claim the student tuition transfer even if you have contributed to it for the last 20 + years.  

First, the tuition tax credit is claimed by the student and can be transferred up to a maximum of $5000 to you as parents if there is any amount left over after your child has claimed the tuition fee as a full-time student.  You can reduce your taxable amount from this transferred amount.

 

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