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How do you remove the american opportunity tax credit from turbo tax?

@Hal_AlI'm still hoping I can understand how to show the housing expenses if I do go ahead and try to re-enter all this info!  When I followed the instructions before it never asked me to show what was housing (which should qualify for a tax-free 529 withdrawal, but not count otherwise, correct?).  Thank you!

Hal_Al
Level 15

How do you remove the american opportunity tax credit from turbo tax?

Q. I'm still hoping I can understand how to show the housing expenses.  When I followed the instructions before it never asked me to show what was housing (which should qualify for a tax-free 529 withdrawal, but not count otherwise, correct?).  

A. That's correct.  To get TT to give you the room & board (R&B) entry point, you must enter the 1099-Q before you enter the 1098-T (so TT knows you qualify). To get the screen to enter Room & Board, answer yes, in the educational (1098-T) expenses section, when asked if you have book expenses.

 

Rough numbers: if you claim the AOTC, you get $2500 and  your student  pays less than $300 tax on the extra income.

How do you remove the american opportunity tax credit from turbo tax?

@Hal_Al Okay that worked.  Thank you so much!

Dont-care
New Member

How do you remove the american opportunity tax credit from turbo tax?

Thank you so much! I was getting so frustrated.

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