By default, TaxCycle wants to transfer unused Tuition credits from a student to a parent. Can anyone tell me how to prevent this transfer without using an override on the S11 schedule? Thanks, Mike Hyde, Ottawa, ON
At the bottom of the Schedule 11, just above the Tuition Transferred amount on line 327, there is a question that says “Do you wish to claim a different amount” Change this to “YES” and if you don’t put any amount in the box beside the YES it will carry forward the entire amount.
Many Thanks for your reply. I made the change, and after waiting a while, the S11 numbers did change, and the amount now shows as a carryforward on the student’s S11. However, on the parent’s tax return, the transfer is still showing up (Included as a credit on dad’s return). Any suggestions would be greatly appreciated. Thanks - -
Sorry, I can’t be of more help.
When I try it here, the change is instant, and the parents return immediately gets updated to delete the claim. If I change the yes back to no, it transfers the tuition and the parents S1 shows the tuition. If I change it to back to yes, it carries forward the tuition and if I jump to the parent’s S1 the claim is gone, so it seems to be working correctly.
The only other place you can look is maybe in the Dependant screen, maybe you have some over-rides in somewhere.
Oh wait… are any of the returns locked?
Thanks again - - After closing, and reopening the file twice, the change seemed to take and the credit has disappeared from the parent’s return. Not sure why it took so long, but it seems to be OK now.
Maybe that’s the software’s way of telling us it’s time to call it a night?
There were no overrides and none of the returns were locked. Mom’s return had been filed, but shouldn’t have affected anything (The transfer was daughter-to-father).
The slow program response and having to re-open the file twice tells me you need to reboot your computer. Not just a restart. Shut down and fire it up again. Windows updates sometimes have little bits that require full shut down to take effect.
Hope this helps.
Just want to add that you have to change to Yes on the provincial tuition and education amounts as well.
Except in Ontario… where there is no such thing as a provincial transfer because Kathleen Wynn claimed to have made tuition free.