fung3090
New Member

Should I split the tuition with my oldest kid and then I claim only $5000 to avoid being audited?

 

Seniors and students

A couple questions: who's tuition is this? Who paid the tuition? And, what do you mean by splitting the tuition?
fung3090
New Member

Seniors and students

It's my kid's tuition, I paid for it. Total tuition I paid for between my 2 kids was over $5000, I get waring message that the flags my submission since over $5000 and increases chance of being audited
fung3090
New Member

Seniors and students

My oldest made about $7000 and his return is about $700, would it increase his claim if he claimed the $5000 or part of it or would you recommend he use it for future years. I am new toddling taxes, thanks

Seniors and students

$7000 is well below the basic personal amount, so he won't have tax owing. Both kids have to report their tuition on this years' returns in order to carry forward. TurboTax will state how much is available to carry forward or transfer. Once the amount available to carry forward or transfer is determined by the program, it is technically your child's decision if they want to carry forward for next year (or up to five years from this tax year), or transfer it to you. 

Seniors and students

Thanks for the details. You will need to first report the tuition paid on your children's returns, if they can't benefit from the tuition credit, then you will be able to claim up to $5000 per child on your return. You will need the children to complete the T2202A (Statement of tuition credits from their college/university) and sign it to you.