Quick question about tuition credit amount on tax.. i have like 50k!!
So i have like 50k tuition amount, does that mean i'll get back 50k eventually from working? I wasn't able to find a clear answer
xtreme to the maximum
Apr 19th, 2022 3:01 pm
Apr 19th, 2022 3:27 pm
Apr 19th, 2022 3:58 pm
Yes i know, but lets say i pay 5k in tax do i get 5k back from the credits? What i'm asking is that will i eventually get back 50k?
Apr 19th, 2022 4:00 pm
No. It's a credit, which means that if you look on the tax form you'll see that it's value is <bottom fed rate + bottom prov rate> x $50K, or about $10K.
Apr 19th, 2022 4:05 pm
Apr 19th, 2022 5:53 pm