Q. What would I put down for box 1 and box 5 on the amended return if I originally put down 11862 in Box 1 and 11060 for box 5 on the original 2023 1040?
A. $4000 in box 1 and box 5 blank.
Q. I don't know if putting 4000 in box 1 and leaving box 5 blank would be too drastic of a change?
A. No
You shoulda got $802 AOC in 2023. $4000 will get you $1698 more. The AOC is 100% of the first $2000 and 15% of the next $2000.
So, entering $2000 in box 1 and box 5 blank gets you $1198 more.
The big question is how does the student's return change with an additional $3198 of income.
