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Why is TurboTax and other software calculating my AOTC refund as over $1,000?
I thought the maximum refund would be $1000 for whatever amount over $4,000 paid in tuition/expenses? I paid $1,025 in school expenses and it's reflecting as that same amount as my total refund. I did have a lot of taxes I owed but I over paid estimated taxes for so I am getting a refund from that. Is it possible I'm getting the entire tuition expense back because I owed taxes, hence it's getting treated as a deduction which now because I applied the estimated taxes paid, shows up as a refund of the entire amount. Apologies if this sounds confusing. Basically, why is the AOTC giving me the entire tuition I paid back as a refund?
‎April 4, 2022
5:26 PM