The 2020 NYS tax software does not calculate the tuition credit properly.
If the scholarship $ in Box 5 on form 1098 T, is higher than Box 1 amounts, the program still calculates a credit on the tax return.
This is not correct.
My 2020 program did this and it resulted in an audit letter from NYS, a $ adjustment and a penalty.
This error may also exist on 2021 and 2022 NYS tax software.
Please advise.
George, CPA
[email address removed]
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I still have not received an answer to this problem.
George
Are you using a professional tax program as a CPA ? If so contact that program's help desk.
And depending on how you entered the info in a professional program you could get the credit if you make more of the tuition taxable ... review that section again.
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