Quick Student Taxes Question

[morad05]

Hi, I am trying to figure out if I have some extra tuition credits to use for filing my taxes. I did not file taxes for 2004 but I did have a semester of school so i wanted to know if my parent's accountant could have still transferred my tuition credit to them without filing my taxes.

[don242]

Probably best to ask your parents for the information. Did you file for 2005? If so check your Notice of Assessment for what you still have credits for.

[Starcraftjunkie]

It'll depend on how much of the tuition credits you have used for yourself. If you were working, your credits would offset your amount and there would be less (or none) left depending on how much you had in the first place (and how much taxes you had to pay).

Best bet is just to see if a buddy/friend has an old version of quicktax/taxwiz/etc and crunch the numbers. Or your accountant could probably do all your taxes for the past years fairly easily and get a more accurate figure.

[morad05]

My parents dont know and their accountant takes forever to get information for me. My question is this basically, can you transfer your tuition credits to someone without filing your own income taxes? Thanks

[Krox]

no you cannot transfer tuition credits unless you file. The individual with tuition credit must specify the amount of credits to transfer (up to $5000). So if you didn't file in 2004, the accountant should not have been able to transfers credits. However, if you want to use these tuition credits this year you will have to file a tax claim for 2004.

[iheartdeals]

Also, just to add, even after you have filed any old tax returns (ie your 2004 one), you won't be able to transfer any of those tuition credits to your parents.

You cannot transfer any tuition credits that are carried forward from a previous year. You may only transfer tuition credits that are claimed for the current year (ie. 2006) with a max of $5000.

[morad05]

Okay thanks for the answers, but one more question, I am looking at my epass online and it shows my tax filing for 2005 but there is nothing for 2004. Does this mean that i definately have no tax filings for 2004 or is there a possibility that it just doesnt show up on my epass online. Thanks