I was told to enter earned income from MATH for Am...
Sign Up

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
cancel
Showing results for 
Search instead for 
Did you mean: 
-elyseperez
New Member

I was told to enter earned income from MATH for America as SCH but numbers of return drop what am I doing wrong?

 
2 Replies
GiseleD
Expert Alumni

I was told to enter earned income from MATH for America as SCH but numbers of return drop what am I doing wrong?

It sounds like your entries were correct. When scholarships exceed tuition and fees, then the balance of the scholarships becomes earned income. This earned income will increase the amount of tax owed and reduce your refund. 

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
-elyseperez
New Member

I was told to enter earned income from MATH for America as SCH but numbers of return drop what am I doing wrong?

One thing that TurboTax does is that it treats our MfA income as Self-Employment income, because that's how self-employment income is reported, and thus is subject to the ~15% FICA tax  However, this is wrong.    is what they are telling me

Dynamic AdsDynamic Ads
v
Privacy Settings