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cathypin
New Member

I have transferred $5000 in tuition to my parents in 2024. Can i use the remaining $5744 in 2024 on my return or do I need to carry forward to 2025?

 
1 Reply

I have transferred $5000 in tuition to my parents in 2024. Can i use the remaining $5744 in 2024 on my return or do I need to carry forward to 2025?

A student must prepare their return first before transferring any tuition fees to parents.

 

In order to transfer your unused tuition credits to someone else, you'll first need to inform them of the precise amount(s) so that they can claim them on their own tax return. The first step is to enter your income information into TurboTax, then claim your tuition fees. TurboTax will then automatically calculate the maximum amount of credits you may transfer to another party.

 

Refer to the following steps for instructions on how to transfer your unused tuition credits in TurboTax:  How do I transfer my unused tuition credits to someone else?

 

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