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Get your taxes done using TurboTax
@Opus 17 Now that I am ready to file I just want to make sure I have understood everything correctly.
I went to my 2017 TurboTax Desktop program and dropped the income in box 1 - Wages by the total amount that I repaid. I then took the new number in the Federal Refund box and subtract the old number from it. This is the amount that I enter into the form 1040 in the forms mode on my 2018 return by doing the following:
"Go to FORMS (top right of main screen) > Form 1040 > Scroll below line 72 to "Other Payments and Credits Smart worksheet"
Please enter the credit in line D.
This credit should show up on Form 1040 line 73"
Please let me know if I have understood this correctly. I have also tried the deduction method but received the notice that the standard deduction is the best option.
Thanks again for all the help!
I went to my 2017 TurboTax Desktop program and dropped the income in box 1 - Wages by the total amount that I repaid. I then took the new number in the Federal Refund box and subtract the old number from it. This is the amount that I enter into the form 1040 in the forms mode on my 2018 return by doing the following:
"Go to FORMS (top right of main screen) > Form 1040 > Scroll below line 72 to "Other Payments and Credits Smart worksheet"
Please enter the credit in line D.
This credit should show up on Form 1040 line 73"
Please let me know if I have understood this correctly. I have also tried the deduction method but received the notice that the standard deduction is the best option.
Thanks again for all the help!
‎June 4, 2019
1:49 PM