Tuition transfer from dependent max is $5000. We've done dependent's return as designated such. Why is the TTO stating that the max transfer amount is less than that?

jcole8320-outloo · ‎March 9, 2023

line 9 on schedule 11 is $6239.10
student used $0 on their return and designated max transfer to parent of $5000. Software will only let us transfer $4238? I believe parent could use the extra credit on his schedule 13.

TurboTaxBrenda1 · ‎March 16, 2023

TurboTax will only allow the amount available to be transferred- Students must claim their tuition amounts and reduce their own tax payable to zero before they may transfer any leftover credits to an eligible recipient. Once they have claimed their tuition fees, TurboTax will let them know how much of their leftover current-year credits can be transferred to someone else. If TurboTax is saying only $4238.00 is available for transfer- from the Federal amount then that is all they can transfer over.

Thank you for choosing TurboTax.

Tuition transfer from dependent max is $5000. We've done dependent's return as designated such. Why is the TTO stating that the max transfer amount is less than that?

Seniors and students