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brguo
New Member

Must I use my tuition credits in current year? I wonder if I can carry forward it to next year, as my income will be higher.

 
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Must I use my tuition credits in current year? I wonder if I can carry forward it to next year, as my income will be higher.

Unfortunately, you cannot choose to carry forward your tuition amounts. You must claim your tuition, education, and textbook amounts in the year they are incurred and you must claim this amount in the first year you have a tax payable.

This means if you have to use any of the tuition amounts this year to reduce your tax payable, they will be applied to your return automatically by CRA, even if you attempt to carry them forward. 

TurboTax will apply the needed amount to reduce your tax payable to zero this year and carry forward any excess to future years. Then CRA will automatically apply as needed. If you can use all your credits in a particular tax year, you are required to do so. You cannot spread them out over a number of years or wait to claim them. 

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Must I use my tuition credits in current year? I wonder if I can carry forward it to next year, as my income will be higher.

Unfortunately, you cannot choose to carry forward your tuition amounts. You must claim your tuition, education, and textbook amounts in the year they are incurred and you must claim this amount in the first year you have a tax payable.

This means if you have to use any of the tuition amounts this year to reduce your tax payable, they will be applied to your return automatically by CRA, even if you attempt to carry them forward. 

TurboTax will apply the needed amount to reduce your tax payable to zero this year and carry forward any excess to future years. Then CRA will automatically apply as needed. If you can use all your credits in a particular tax year, you are required to do so. You cannot spread them out over a number of years or wait to claim them.