Education has a lot of loopholes that the IRS encourages. If your income allows you to claim the AOTC, I would encourage that. Thus:  1. I would make her claim more to max out the AOTC. 2. Yes, she must be your dependent for you to claim the AOTC. I am sure you spent plenty on her! 3. Anything the school requires/ IRS allows. See Qualified Education Expenses - Internal Revenue Service .  4. Whoever claims the student claims the credit.    I am also going to recommend you  look at another of my answers for help.   It is sounding like Tuition, books, fees, etc is probably around $11,500 Scholarship $9700 but claim $2,200 went to room and board, if allowed. This leaves $4k for AOTC on parents return. ... View more

The first 3 months of the following year do qualify - however - since the college is keeping it in tune with scholarships, she could end up will all scholarship her senior year and a job to bump up the tax rate if you keep claiming those 3 months ahead. You can claim the tuition and all required expenses paid during a tax year for that year or the following 3 months. If the IRS audits your education expenses, just send them bursar records and your payment records along with any other extras. That department of the IRS functions well.   See page 12, What Expenses Qualify 2021 Publication 970 - Internal Revenue Service to verify your ability to claim all tuition. Depending on your income, you may be able to qualify for the AOTC. If necessary, you could push some income to your daughter. Depending on her income, it may not be taxable at all. The standard deduction for a single is $12,400 so only income above that is taxable to your daughter.  I am also going to recommend you look at another of my answers for help.    AOTC & Lifetime Learning eligibility $80,000-$90,000 $160,000- $180,000 MFJ ... View more

Be sure to track your return to the IRS so you can be sure it safely arrived. ... View more

 If you are alone in your business and did not choose to be taxed as a corporation, you are considered self-employed and file a Sch C for your income and expenses. The program you bought is correct if you are sch C. You need to mark that you started the business in 2021.   An LLC is a legal election. Depending on how many are in the LLC, you could be a sole proprietor, a partnership, or an S Corporation. A sole proprietor can be a disregarded non- entity and file on your personal return with a sch C.  S- Corp requires paperwork. If you did not file a form, you are not an S Corp. If you want to be an S Corp, you need to file  Form 2553 and instructions. Partnership- more than one of you, or possibly a spouse, in the business.     An S- Corporation or a Partnership requires a  return using  Business Tax Software , downloaded to a windows machine. When you filed for your EIN, that EIN paperwork- shows what tax form the IRS expects you to file based on what you entered.   No matter which of these you are, the IRS has a business center that helps choose the best business for you, shows how to grow, organize and prosper. Here is my favorite IRS website:  Small business.   If your LLC is a disregarded non-entity filing a sch C, mark that it is new.     ... View more

You did not need all 4 lines, only those that apply to you. If you only need two lines, great!    Total up all the LT parts and make one entry. Do the same for ST totals. You can use the totals on the 1099-B, as your screenshot shows at the bottom, the LT and ST and you are saying that is noncovered- the basis may not be correct. I do see the zero for basis showing so you will need to input the correct basis  as needed instead of what is showing. The IRS knows noncovered means the broker didn't know and you corrected it.   Mail a copy of your 1099-B when the instructions tell you to along with the 8453.   ... View more

Since the state has the information and are the ones in charge of the debit, you are not at fault if there is an issue with the timing of the debit. However, you do want to make sure it gets paid so your plan to check is a good one.   @doin_taxes ... View more

No, as long as it is pending, the state is still working on accepting it. Once accepted, they will set up the draft for your account. If it rejects, you have 5 days after the deadline to fix and resubmit. ... View more

First, determine if you received one at Third Economic Impact Payment. Check your bank records and verify you did not receive it already. If the IRS thinks you got it and you are you did not, then you will need to request a payment trace, call 800-919-9835 or fill out IRS Form 3911, Taxpayer Statement Regarding Refund. ... View more

CA varies with the income.  Please see 2021 California Tax Rate Schedules.   ... View more

Have you checked to see if the IRS thinks you or your spouse already got the money? If so, you need to trace it.   First, determine if you received one at Third Economic Impact Payment. Check your bank records and verify you did not receive it already. If the IRS thinks you got it and you are you did not, then you will need to request a payment trace, call 800-919-9835 or fill out IRS Form 3911, Taxpayer Statement Regarding Refund. @ WisMom22 ... View more