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I was told to enter earned income from MATH for America as SCH but numbers of return drop what am I doing wrong?
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July 10, 2020
4:09 AM
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Get your taxes done using TurboTax
It sounds like your entries were correct. When scholarships exceed tuition and fees, then the balance of the scholarships becomes earned income. This earned income will increase the amount of tax owed and reduce your refund.
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July 10, 2020
10:38 AM
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Get your taxes done using TurboTax
One thing that TurboTax does is that it treats our MfA income as Self-Employment income, because that's how self-employment income is reported, and thus is subject to the ~15% FICA tax However, this is wrong. is what they are telling me
July 14, 2020
4:39 PM