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jgordosea
jgordosea, Enrolled Agent
Category: Tax
Satisfied Customers: 3005
Experience:  I've prepared all types of taxes since 1987.
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Why is Turbo Tax forcing me to take 8863 credit instead of

Resolved Question:

Why is Turbo Tax forcing me to take 8863 credit instead of filling out 8917. I can fill one form or the other, yes?

Do I have a choice to select 8917 if I qualify for it? I read thru the instructions and it seems that me and wife qualify for either one.

How can I override it?
Submitted: 9 months ago.
Category: Tax
Expert:  jgordosea replied 9 months ago.
Greetings,

Form 8917 is for claiming the Tuition & Fees Deduction. Form 8863 is for claiming Education Credits. Turbo Tax program picks the method that benefits you the most, which is almost always the education credit (8863) if you can qualify.

A $1,000 deduction will decrease your taxable income by $1,000. If you are in the 25% tax bracket your tax is decreased by $250. A $1,000 credit will decrease your tax dollar for dollar- by $1,000.

In the desktop version you can use Forms mode (upper right corner of screen)
Open Student Info Wk form
Go to Part VII - Education Credit or Deduction Election
click to select the tuition and fees deduction to be used.
In Online version the choice has to made in the interview.

Please ask if you need more discussion or clarification.
Thank you.

Customer: replied 9 months ago.
I did that but the tuition deduction amount is not showing up in 1040 line 34 nor the form 8917 is filled in the forms section.
Expert:  jgordosea replied 9 months ago.

Did you try to open a 8917 in the Forms mode?

 

Also double check that the box did remain checked on the Student Info Wk form and see if there are any red items on that form.

For example when I just made one the box Was this person a student was not checked.

 

Once I filled all the boxes on the Student Info Wk I got it to work

 

Also see the Tuition Summary Form for another place to make the choice

Part III choose 3 Manual

Part II check column (d) for the deduction.

 

Let me know if that works for you.

jgordosea, Enrolled Agent
Category: Tax
Satisfied Customers: 3005
Experience: I've prepared all types of taxes since 1987.
jgordosea and other Tax Specialists are ready to help you
Customer: replied 9 months ago.
I had to go through the interview to run the optimizer again. It worked.

See if you can answer my other open question about HSA contribution.
Expert:  jgordosea replied 9 months ago.
Already answered.

Thank you for the acceptance.

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