The program is expected to be updated Friday the 27th so check back this weekend and update your program, since you use desktop.
Line 18 used for credit calculates the AOTC or LLC and I assume...
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The program is expected to be updated Friday the 27th so check back this weekend and update your program, since you use desktop.
Line 18 used for credit calculates the AOTC or LLC and I assume you are saying you are not eligible but the program is giving you the credit.
If the problem is the Q covering all of the education expenses along with room and board, then you don't need to enter the T or the Q. If the Q covers room and board and some of the education expenses, you would want to the enter the T and claim the remainder on your taxes.
For example: Q for $20,000 T box 1 $20,000
Obviously, use the Q for room and board first, say $12,000.
Then $8k is used for education.
The Q is not entered in the program. IRS Publication 970, Tax Benefits for Education states that nontaxable distributions should not be entered.
The T is entered as box 1 $8k. The T is an informational form, not a tax form so you can correct it or not use it.
@pallan