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1040 Student

I need to check in Turbo to see if the lifelong learning credit was given. How can I see this now that it has been completed?

Meanwhile, when calculating my own form 8863 w/schedule 3 and credit limit workshet, it appears I should receive the lifelong credit of $2000. I attend 2 unv., had $44,000 in actual wages. School 1 had $12,000 rec'd qualified tuition/expenses paid in student loans and then $4000 on scholarships (108-T). School 2, all tuition/fees paid w/scholarships and $14000 left over of scholarships.

After offsetting the taxable $14 of scholarships on Line 1 with books, line 1 of 1040 b/c $47,000...so total taxable income is $3,000). 

After completing Adjusted Qualified Tuition expenses worksheet form 8863, the lifelong credit should be $2,00. Is this correct. The worksheet only asked about inputs of tax-free educational assistance so the $14,000 of taxable scholarship on worksheet. Is this correct. Seems so, the $14,000 is accounted for in Line 1 of 1040, where after offsetting, $3,000 of scholarships is added taxable income. 

Is this correct, why did TT not place the the $2,00 on line 13G of for 1040? 

How can I see this now, where are the calculations done on the forms, where are the forms?

How can I get back into TT to get these forms? 

Will IRS need the forms, I need a copy for my records, how can I see these?

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1 Reply
BillM223
Expert Alumni

1040 Student

If you are using the Cd/download software, you can see the forms at any time by clicking on Forms (upper right).

 

If you are using the Online product and have already paid for it, you should be able to go to Print Center. Do this by clicking on Tax Tools on the left, then on Print Center underneath it.

 

NOTE: if you have not yet paid, you can always see form 1040 and its three schedules (your credit is on Schedule 3) by doing the following: click on Tax Tools on the left, then on Tools underneath, then on View Tax Summary in the center, then Preview my 1040 back on the left.

 

If you need to see other forms, but have not paid for the software yet but are willing to, then click on Print Center and the subsequent interview will ask you to pay if you haven't already.

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