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Missing Tuition in QTP Computation of Taxable Income. This creates an income from the distribution.
In the QTP Computation of Taxable Income, the amount used for Adjusted Qualified Higher Education Expenses applied only includes the Other Education Expenses and does not include the tuition shown on 1098-T. This creates an income from the distribution in this computation worksheet that is carried forward to line 8z on Schedule 1 and then line 8 on 1040. The 1098-T shows $8,635, the off campus housing, adjusted for the schools standards, are $6,975 and the 1099-Q is $10,200. Total expenses are $15,610 and distribution is $10,200. Why would TT shows additional income of $1,699? I see how the number was derived but the root issue is the tuition isn't considered at all. Its the main component.
‎January 28, 2023
7:59 AM