The program uses the full carry forward tuition amount, when only a partial portion is needed to reduce tax payable to zero. Why?
The amounts of unused credit are applied to reduce tax payable automatically. The Canada Revenue Agency (CRA) applies the available tuition amount carried forward every year to reduce your taxes to zero until it has all been used.
The program uses the full carry forward tuition amount, when only a partial portion is needed to reduce tax payable to zero. Why?
So if I understand your reply, the program won't let me apply the proper amount, I just trust CRA to do it for me. Then why did I purchase Turbo Tax if I must rely on CRA to calculate the proper amount of credit to use? Why not just fix the program.
The program uses the full carry forward tuition amount, when only a partial portion is needed to reduce tax payable to zero. Why?
I just tried and the link does work. 🙂 Once you enter your information into TurboTax it will calculate what is needed to bring your tax owing to zero. Please note that if you had only carry forwards from previous years- these amounts can't be transferred to someone else.
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