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Lou, Tax Preparer
Category: Tax
Satisfied Customers: 404
Experience:  25+ yrs Experience Personal Income Taxes - Former DM for H&R Block in California
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My question is on Tuition and Fees Deduction. Our 1098-T from

Customer Question

My question is on Tuition and Fees Deduction. Our 1098-T from our sons college totals 33083.00 minus his \$5,000.00 scholarship totals \$28,083.00 plus expenses of \$511.00. Grand total \$28,594.00. He is a senior this year.   Our combined income is below the \$116,000 limits for married filing jointly. Turbo tax makes this calulation. We have a \$2,000. deduction for this. Why is it not a \$4,000.00 deduction which I believe we qualify for?
Submitted: 8 years ago.
Category: Tax
Expert:  Lou replied 8 years ago.

Hello and thank you for contacting JustAnswer. We appreciate the opportunity to be of service to you.

If your amount on line 5 of the Form 8917 is less than \$130,000 and you are MFJ then the deduction should be \$4,000.

What is the sum of lines 23-33 on your 1040? That should be the amount on line 4 of the 8917.

Can you please tell me what are the amounts in the boxes of the 1099-T and what is the sum of lines 23-33? Also what is the amount on line 5 of the 8917?

Are you claiming any other education credit?

Customer: replied 8 years ago.

If your amount on line 5 of the Form 8917 is less than \$130,000 and you are MFJ then the deduction should be \$4,000. \$88,893.

What is the sum of lines 23-33 on your 1040? Turbo Tax left them blank. That should be the amount on line 4 of the 8917. Left blank as well.

Can you please tell me what are the amounts in the boxes of the 1099-T Box 2 = 33,083.00; Box 5 = \$5000.00 Box 8 = X

and what is the sum of lines 23-33? 0

Also what is the amount on line 5 of the 8917? \$88,893.00

Are you claiming any other education credit? NO

Expert:  Lou replied 8 years ago.

There could be a glitch in the software. Based upon what you have told me I see no reason that you should not qualify for \$4,000 adjustment.

You should contact Turbo-Tax and see if they have an update or a fix available.

If I can be of any further assistance in this matter please do not hesitate to contact me.

Thank you and positive feedback is greatly appreciated.