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747036
The automated calculation for maximized savings is less than another option considered (option 3). I don't see how to change it so option 3 is selected (see attached screen shot).
I realize this is pennies, but they all add up.
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First, just to clarify, a deduction from income (tuition and fees deduction) is generally less beneficial tax-wise than a tax credit because a credit reduces tax liability dollar for dollar, whereas a deduction only reduces taxable income. So, the education maximizer is designed to give the best tax outcome.
But, you can manually tell the program that you wish to change the education credit selection to see the effect -
First, just to clarify, a deduction from income (tuition and fees deduction) is generally less beneficial tax-wise than a tax credit because a credit reduces tax liability dollar for dollar, whereas a deduction only reduces taxable income. So, the education maximizer is designed to give the best tax outcome.
But, you can manually tell the program that you wish to change the education credit selection to see the effect -
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