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New Member
posted Mar 19, 2023 4:56:03 PM

Can i use more of the tuition credits to reduce amount owing to zero. Calculations within turbo tax only use a certain amount and then want to carry forward the rest

After running all the slips T4s, T2202, turbo tax does a calculation to use an amount to reduce the taxes. It also has a small amount to transfer to a parent.  Why can I not increase the credit instead of carrying forward?  and why can I not get this transfer to carry onto my return?  It does not link and wont accept the manual entry.

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1 Replies
Returning Member
May 17, 2023 10:53:59 AM

To calculate the tuition tax credit for the 2022 tax year, take the total eligible tuition amount and multiply it by 15%. (Your eligible costs include tuition and applicable fees, and you’ll get the total when you receive your T2202 Certificate or other paperwork from your educational institution). 

The software will apply any eligible credit to reduce or eliminate tax payable. Your only choice is to carry forward or transfer, and only credit earned in the current tax year can betransferred.
 
Please visit following links for more information:
Transfer or carry forward amount 
Understanding the Tuition Tax Credit in Canada: All You Need to Know 
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