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Level 1
posted Mar 24, 2023 7:29:27 PM

I had less than 5 months of full time school enrollment in 2022 but accidentally clicked that I had more. How can I undo this? I lost my tax break & my fed refund shrank.

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1 Best answer
Level 15
Mar 25, 2023 6:02:46 AM

 "I lost a few hundred dollars of federal"  sounds like the savers credit. 

Re-enter the Retirement Savings Contribution Credit interview:

Federal Tab

 - Deductions and Credits

    -Retirement and Investments.

      -  Retirement Savings Contribution Credit  Click Update (or Revisit)

7 Replies
Expert Alumni
Mar 24, 2023 7:40:48 PM

Try going back to the Personal Info section and go through slowly and carefully to see if the question is there.  

Level 1
Mar 24, 2023 7:50:37 PM

No. I don't see it in the my info section.

 

What happened was I was reviewing everything getting ready to file.

 

I went to the "deductions & credits" page, clicked through all the different ones, 

But as I was reviewing I accidentally clicked whatever the questions was about 5 months of being a full time student.

 

I accidentally changed from no to yes and my federal refund decreased by several hundred dollars.

 

Now trying to undo this to add back the deduction and clarify that no I was only a full time student for 4 months in 2022.

Expert Alumni
Mar 24, 2023 8:54:05 PM

I would like to take a deeper look at this. However, I need a diagnostic file which is a copy of your tax return that has all of your personal information removed. You can send one to us by following the directions below:

  1. Sign into your online account.
  2. Locate the Tax Tools on the left-hand side of the screen.
  3. A drop-down will appear. Select Tools
  4. On the pop-up screen, click on “Share my file with agent.”
  5. This will generate a message that a diagnostic file gets sanitized and transmitted to us.
  6. Please respond back with the Token Number that was generated.

@glombse 

Level 15
Mar 24, 2023 9:31:07 PM

You will  get that question, in the personal info section, if your birthdate indicates you were under age 24 on 12-31-22.

You will also get that question in the Retirement Savings Contribution Credit interview, under Deductions and Credits / Retirement and Investments.

 

"5 months" really means parts of 5 calendar months. So, two common examples: you were in college from Jan 31 thru May 1 or from Aug 31 thru Dec 1.  Both of those would count as being a full time student for 5 months. 

 

Being a full time student for 5 months means, you can, most likely,  still be a "Qualifying child" dependent, regardless of how much income you had.  If you can be a dependent, you do not qualify for some tax breaks.

Level 1
Mar 25, 2023 3:30:20 AM

Finished grad school by end of April 2022, so would have been a student < 5 months of 2022.

 

By accidentally selecting yes to "were you a student for more than 5 months of 2022" I lost a few hundred dollars of federal tax deductions.

 

I was looking around for that specific question in the deductions category so that I could redo it, but I was having trouble finding it.

 

I don't remember having to put in specific 1098-T data so I don't think it was that question.

 

Thanks

 

 

 

 

Level 15
Mar 25, 2023 6:02:46 AM

 "I lost a few hundred dollars of federal"  sounds like the savers credit. 

Re-enter the Retirement Savings Contribution Credit interview:

Federal Tab

 - Deductions and Credits

    -Retirement and Investments.

      -  Retirement Savings Contribution Credit  Click Update (or Revisit)

Level 1
Mar 25, 2023 2:48:05 PM

Thanks! That worked !

 

It was the "Retirement Savings Contribution Credit" 👍