Personal Finance

Tuition Credit transfer from child to parent for 2018 Taxes

  • Last Updated:
  • Feb 18th, 2020 11:43 am
[OP]
Newbie
Jul 4, 2008
90 posts
11 upvotes
Mississasuga, ON

Tuition Credit transfer from child to parent for 2018 Taxes

A child can transfer up to $5000 of unused tuition credits to a parent. That I understand and have been claiming for one child.
Now the second child has transferable credits. Am I allowed to claim from him too if the total claim becomes over $5000 on my side?

To clarify, I'm claiming the maximum $5000 from one child as his taxes are zero for now.
Now the second child has another $4000 of credits that can be transferred this year.
Can this $4000 of credit also be transferred to me (Thus making my credits $9000) ?

Am unable to get clarifications. Any feedback would be appreciated.
8 replies
Member
Feb 9, 2018
378 posts
276 upvotes
sanjeevnuts wrote: A child can transfer up to $5000 of unused tuition credits to a parent. That I understand and have been claiming for one child.
Now the second child has transferable credits. Am I allowed to claim from him too if the total claim becomes over $5000 on my side?

To clarify, I'm claiming the maximum $5000 from one child as his taxes are zero for now.
Now the second child has another $4000 of credits that can be transferred this year.
Can this $4000 of credit also be transferred to me (Thus making my credits $9000) ?

Am unable to get clarifications. Any feedback would be appreciated.
It is max $5000 per child. So yes, you can transfer 5000 from one child and 4000 from another child in same year as long as you dont exceed 5000 limit per child. Here is an example:

https://turbotax.community.intuit.ca/qu ... -can-claim
Deal Addict
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Dec 16, 2015
2014 posts
1519 upvotes
Canada
Will the child get the credits back??
[OP]
Newbie
Jul 4, 2008
90 posts
11 upvotes
Mississasuga, ON
Transferable credits per year are a max of $5000. These are credits a child can transfer out of a max of $5000 after first using it to reduce their tax to zero.
Once transferred a parent (or other eligible persons) claim it on their return, so it cannot go back.
Sr. Member
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Jan 15, 2017
809 posts
418 upvotes
Redsanta wrote: Will the child get the credits back??
No. The transferred amount is subtracted from the total paid in the tax year, with any residual amount carried forward. Only the student can claim the carry-forward amount in a future tax year.
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Dec 16, 2015
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taxrage wrote: No. The transferred amount is subtracted from the total paid in the tax year, with any residual amount carried forward. Only the student can claim the carry-forward amount in a future tax year.
Which means the child get less tax refund in the future especially when the child is the one paying for all the tuition? Can the child get the transferred amount back from parents?
Deal Addict
Jan 19, 2017
3038 posts
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Redsanta wrote: Which means the child get less tax refund in the future especially when the child is the one paying for all the tuition? Can the child get the transferred amount back from parents?
Technically no. The child had to sign the back of the T2202A form to allow the parent claiming the credit. why do you want the credit back?
Deal Addict
May 16, 2017
1370 posts
1681 upvotes
Redsanta wrote: Which means the child get less tax refund in the future especially when the child is the one paying for all the tuition? Can the child get the transferred amount back from parents?
Yes, the carry-forward amount is reduced for the child but you're making a massive assumption about individual financial arrangements between parent-child.

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