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Get your taxes done using TurboTax
Hello,
I was getting help from the CPA with Turbo tax. He explained that it is actually scholarship income (not unemployment). I am getting $12,180 scholarship funds which are increasing my taxable income by that amount. However, as far as I can tell this still an error because I have my tuition payments far exceed that ($21,180). For some reason, the $12,180 scholarship is increasing my taxable income. Bill suggested I simply make the manual calculation only input the difference ($9,460). My concern is that making my own adjustment and not reporting the full amount will make me vulnerable to a proposed assessment. I would absolutely appreciate if you looked at it.
May 14, 2021
1:42 PM