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Can someone please explain certain numbers in a TurboTax Student Worksheet?

I attach  an image at the bottom of this post of a relevant part of my student's information worksheet related to education expenses.

 

The input numbers (provided via the interview process) are:

Tuition and related expenses: 42,518

Book: 128

Room and Board: 12,522

Scholarship: 16,000 (non taxable)

 

When I look at the generated Student Information Worksheet (image attached at the bottom) I cannot understand the number $14,124 in item 18 "Use for exclusion" in the column for AOTC. I don't know how it was arrived at. I thought it should be $4000/-, the exclusion for taking the AOTC (just as it is for the 529 plan - see three columns over).

 

Please can someone explain how this number ($14124)  was arrived at?

 

Any help would be appreciated.

 

 

worksheet.png

 

 

 
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2 Replies

Can someone please explain certain numbers in a TurboTax Student Worksheet?

I can;t figure it out either, but it really doesn't matter, expenses for AOC are capped at $4000 in any event

 

look at line 27 for the IRS form 

 

https://www.irs.gov/pub/irs-pdf/f8863.pdf

Can someone please explain certain numbers in a TurboTax Student Worksheet?

Thanks for your response @NCperson and apologies for my belated reply.

 

Yes, I do realize that the max cap on AOTC is 4000/- and, indeed, on another child's student worksheet, the number in row 20 ("Adjusted qualifying expenses") is 4000/-

 

While it does not make any practical difference to the overall credit obtained and the form filed, it worries me that there is a calculated number in a worksheet which cannot be adequately explained.

 

Is there a way to get TurboTax to respond to this issue? Or are there other members in the community who also have this problem?

 

Thanks again.

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