Can a parent carry forward a transferred tuition/education amount into a future year, or must they claim it in the same tax year that it was transferred by child?
01545
1 Best answer
Delphision
Level 2
Oct 30, 2019 12:00:34 AM
The parent should only transfer the amount required to reduce their tax to nil and leave the rest for the student. The parent cannot carry forward.
1 Replies
Delphision
Level 2
Oct 30, 2019 12:00:34 AM
The parent should only transfer the amount required to reduce their tax to nil and leave the rest for the student. The parent cannot carry forward.