Im 24 years old and have federal and provincial tax credit from attending post secondary. Can i transfer these to my parents even if im not longer considered a dependent?
Im 24 years old and have federal and provincial tax credit from attending post secondary. Can i transfer these to my parents even if im not longer considered a dependent?
Yes, you can transfer any tuition amounts to a parent or grandparent that you do not need to use yourself to reduce your own tax payable to zero. You must first enter the tuition on your own return, then TurboTax will do the calculations and let you know how much is available to transfer.
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