I went ahead and played around with the numbers. I found that it's more beneficial if I allocate 0% and my parents 100%. That would reduce the amount of tax owed down to $2000, and I can now then help them pay for that amount.
I'm not entirely sure but is that allowed? Can I claim an allocation of 5% and my parents 95%? Or 0vs100? Or does it have to be shared equally between 3 people?
