topic Is it better to transfer Tuition fees to my parent or keep them? in Seniors and students https://turbotax.community.intuit.ca/community/seniors-students/discussion/is-it-better-to-transfer-tuition-fees-to-my-parent-or-keep-them/01/923428#M5572 Wed, 30 Oct 2019 22:45:03 GMT samantha-dick22 2019-10-30T22:45:03Z Is it better to transfer Tuition fees to my parent or keep them? https://turbotax.community.intuit.ca/community/seniors-students/discussion/is-it-better-to-transfer-tuition-fees-to-my-parent-or-keep-them/01/923428#M5572 Wed, 30 Oct 2019 22:45:03 GMT https://turbotax.community.intuit.ca/community/seniors-students/discussion/is-it-better-to-transfer-tuition-fees-to-my-parent-or-keep-them/01/923428#M5572 samantha-dick22 2019-10-30T22:45:03Z It would depend on your circumstances. Generally, if your... https://turbotax.community.intuit.ca/community/seniors-students/discussion/it-would-depend-on-your-circumstances-generally-if-your/01/923429#M5573 <P></P><P>It would depend on your circumstances. Generally, if your parents (or grandparents) owe taxes, it’s usually a good idea to transfer what you can to them. That way you get benefits of the tuition credit this year rather than in the future.</P> <P>However, if your parents have no tax owning, then they can’t use the transfer, so you should keep the tuition and carry it forward. If you are expecting to earn a lot of money (and thus owe a lot of taxes) in the next year or two, you may also want to keep the tuition for yourself.</P> <P> <SPAN>Here is how to transfer unused tuition credits to someone else: <A href="https://turbotax.community.intuit.ca/replies/2648072" rel="nofollow" target="_blank">https://turbotax.community.intuit.ca/replies/2648072</A></SPAN> </P><BR /><P></P> Wed, 30 Oct 2019 22:45:05 GMT https://turbotax.community.intuit.ca/community/seniors-students/discussion/it-would-depend-on-your-circumstances-generally-if-your/01/923429#M5573 TurboTaxSusan 2019-10-30T22:45:05Z
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topic Is it better to transfer Tuition fees to my parent or keep them? in Seniors and students
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https://turbotax.community.intuit.ca/community/seniors-students/discussion/is-it-better-to-transfer-tuition-fees-to-my-parent-or-keep-them/01/923428#M5572
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Is it better to transfer Tuition fees to my parent or keep them?
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https://turbotax.community.intuit.ca/community/seniors-students/discussion/is-it-better-to-transfer-tuition-fees-to-my-parent-or-keep-them/01/923428#M5572
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It would depend on your circumstances. Generally, if your...
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https://turbotax.community.intuit.ca/community/seniors-students/discussion/it-would-depend-on-your-circumstances-generally-if-your/01/923429#M5573
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<P></P><P>It would depend on your circumstances. Generally, if your parents (or grandparents) owe taxes, it’s usually a good idea to transfer what you can to them. That way you get benefits of the tuition credit this year rather than in the future.</P> <P>However, if your parents have no tax owning, then they can’t use the transfer, so you should keep the tuition and carry it forward. If you are expecting to earn a lot of money (and thus owe a lot of taxes) in the next year or two, you may also want to keep the tuition for yourself.</P> <P> <SPAN>Here is how to transfer unused tuition credits to someone else: <A href="https://turbotax.community.intuit.ca/replies/2648072" rel="nofollow" target="_blank">https://turbotax.community.intuit.ca/replies/2648072</A></SPAN> </P><BR /><P></P>
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<dc:date>2019-10-30T22:45:05Z</dc:date>
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