When my adult dependent son added his educational information (unused tuition to transfer to parent), my return changes. Does the TurboTax software automatically do this?
When my adult dependent son added his educational information (unused tuition to transfer to parent), my return changes. Does the TurboTax software automatically do this?
When my adult dependent son added his educational information (unused tuition to transfer to parent), my return changes. Does the TurboTax software automatically do this?
If your son is transferring his Tuition to you, your return will indeed change as this Non-Refundable Tax Credit reduces any tax you have payable, therefore increasing your refund (or reducing your balance due).
As soon as you enter his information on the Dependant screen, TurboTax does automatically apply these amounts to you.
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