My Child's max allowable federal tuition transfer is $2,153.72, when I enter this amount on my return it tells me its only $430.43. Why can't I enter the full amount?
My Child's max allowable federal tuition transfer is $2,153.72, when I enter this amount on my return it tells me its only $430.43. Why can't I enter the full amount?
My Child's max allowable federal tuition transfer is $2,153.72, when I enter this amount on my return it tells me its only $430.43. Why can't I enter the full amount?
Thanks for your question. Students may transfer a maximum of $5,000 of the current year’s federal tuition amount minus how much they need to reduce their federal tax owing to zero. Students must claim their tuition amounts and reduce their own tax payable to zero before they may transfer any leftover credits to an eligible recipient. Once they have claimed their tuition fees, TurboTax will let them know how much of their leftover current-year credits can be transferred to someone else. Please click on this link for more information. In order to help you with this further, we will need more information. Please contact us in private on Social media so we can help you further. You can find us on Facebook or Twitter.
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