The $5000 is the federal maximum per child (provincial amounts vary). That being said, two children can transfer the maximum tuition to the same parent. There is no limit as to how many children can transfer tuition to the same parent.
Note: The tuition transfer credit is non-refundable, which means that it can only be used to reduce any taxes that you owe. If you don’t owe $5000 in taxes, then that amount won’t transfer, even if the dependant has that much to give. The dependants themselves also must use their tuition to reduce taxes payable. So they might not even be able to transfer the full $5000, which is why you need to the dependant’s tax returns first. Also, be aware that only tuition from the current tax year can be transferred.
TurboTax FAQ: Child's tuition credit transfer
Thank you for choosing TurboTax.
nicemocean
New Member
1747ca21
New Member
cassfewkes
New Member
sprodrigues-shaw
Returning Member
sprodrigues-shaw
Returning Member
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.