Thank you for using TurboTax. If your child is a full-time or part-time student, they can claim an amount for tuition while enrolled at a qualifying college or university. If they don’t have enough taxable income and don’t need to claim the full tuition amount, the unused tuition amount can be transferred or carried forward to a future year. The student may be eligible for the Ontario Energy and Property Tax Credit if applicable criteria are met.
If your child is a student and qualifies for the tuition amount, it’s a good idea to make sure they prepare their income tax return first. They should receive the T2202 tax slip from their college or university.
To claim the tax credit, they must file their income taxes and complete both the federal and provincial Schedule 11 forms. This Non-Refundable Tax Credit tuition can be used to reduce their taxes owing to zero. When preparing their return using TurboTax, Schedule 11 is completed in the student profile and any amounts claimed by them will appear on Line 32300 of their tax return.
As per CRA :
Any remaining credit calculated on Schedule 11 by a student can be transferred to one of the following individuals. Only one person can claim this transfer from the student. It does not need to be the same person from year to year.
The student cannot transfer any amount they carried forward in the previous year. The maximum amount they are allowed to transfer is $5,000 less the amount they needed to use to reduce their own tax owing.
Be sure to complete the provincial and territorial tax and credits form for your province or territory of residence.
Transfer to Parent or Grandparent
The student may transfer an amount to their parent or grandparent, or to the parent or grandparent of the student's spouse or common-law partner. The student will complete and sign the transfer section of their tax certificate and provide the recipient of the transfer with a copy. The parent or grandparent would enter this amount on line 32400 of their Income Tax and Benefit Return.
Claiming the leftover tuition amount
- Once your child has completed Schedule 11, they can transfer the leftover amount.
- Parents and grandparents can claim the leftover amount on Line 32400 of their tax return.
- If your child has a spouse or common-law partner, the spouse will claim the available credit on Schedule 2 and report it on Line 32600 of their tax return. (TurboTax recommends you prepare your spousal tax returns simultaneously so these credits will transfer automatically for you).
If you have any further clarifications, we would be glad to guide you through.
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