If you actually paid the tuition in 2010; you can file a 1040X (ammended return).
Or check the crystal ball to see if the tuition payment might be better off claimed for 2011 when you actually were in class.
You do have the allowed flexability as long as you document the cross over in your records.
you can file the 1040X immediately.If you actually paid the tuition in 2010; you can file a 1040X (ammended return).
Or check the crystal ball to see if the tuition payment might be better off claimed for 2011 when you actually were in class.
You do have the allowed flexability as long as you document the cross over in your records.
How long do I have to wait to file the amended return 1040X? I used turbo tax to file this year and already received my refund. I only work a part time job while going to school so I don't have any other deductions or higher wage brackets to worry about for claiming the tuition next year.
As the post above yours states, you have to amend the returns for Federal and if the state follows some of the Federal laws regarding the tuition/fees, etc., you'd have to amend the state as well.Ugh hit a huge problem... I already filed my federal and state returns and they were both accepted, but I just got a letter from a school I paid tuition at last year informing me of qualifying tuition, fees, etc. for claim on my return. Am I able to resubmit both federal and state with this adjustment in there? Should I try to cancel the incoming federal/state payments now?!?!?!
Ugh hit a huge problem... I already filed my federal and state returns and they were both accepted, but I just got a letter from a school I paid tuition at last year informing me of qualifying tuition, fees, etc. for claim on my return. Am I able to resubmit both federal and state with this adjustment in there? Should I try to cancel the incoming federal/state payments now?!?!?!
As the post above yours states, you have to amend the returns for Federal and if the state follows some of the Federal laws regarding the tuition/fees, etc., you'd have to amend the state as well.
Read the answer in the post above.
This thread is available for public viewing. The purpose is so people will read what others have experienced and learn from it.
Those expenses were for 2010; they can not be claimed in 2011.I did read a little of the thread, but I didn't search through it as I should have. Sorry about that.
Is it possible to just claim this for my 2011 tax year in 2012? If I have to wait till April anyways, I wouldn't mind waiting until tax time next year... Thanks
Quick question guys. I am trying to figure out something with dependency.
If my Mom didn't work in 2010, went to school for ten months full time for a Cosmotology training obtaining an estetician license, and received 3809 in Scholarships or grants, do I have to file a separate tax for her?
Those expenses were for 2010; they can not be claimed in 2011.
Recalcualte using the 1040X.
People need to realize what documents they should be expecting and wait for them.
Only the W2 have to be out by 31 Jan.
1099 and 1098s do not
So if I am claiming her as a dependent, then I will have to file? I am filling things out using the H&R block software and her 1098-T says:
If you were a degree candidate, the taxable amount of the scholarship, grant, or fellowship is the amount you used to pay for expenses other than tuition and course-related expenses. For example, amounts used for room, board and travel are taxable. She received 3809 in grants. This was for tuition/fees/books. Do I put 0 then or...? Payments, received for qualified tuition and related expenses are listed as 3860.00.
Thanks so much for answering!
I have a High Deductible health plan that has an HSA attached to it. In addition to me putting like $1800 into my HSA with post-tax dollars, about $900 of pre-tax earnings were put into my HSA from my paycheck every two weeks. This shows up in Box 14 on my W2.
I am confused because when I am filling out my tax return online, it is saying that contributions to my HSA should be in box 12 with code W? All I have in box 12 of my W2 is my 401K contributions. Does this make sense?
If I forgot to enter something into my taxes and I already filed, is there a way to get it added in?
So I bought a chair for my home office that was $350. I also had other small expenses for supplies for a total of $153. So there's like $500. Will that missing chair expense make any difference?
This similar question was literally answered twice in the last day. That being said, deductions for business use of home always feel so... exaggerated to me. How much of that chair is business use? Personally, I would not bother amending your return. I would likely advise against it. It's just not worth it.
Sorry, I'm not reading 340 posts to try to find one question.
100% - If I'm not working I'm not in that chair. Hell, I'm not even in that room unless I'm working. I ran it through Taxact again and it only gives $11 more back on my state filing.
Home Business Question:
My wife runs a small home business. She sells at art fairs throughout the state/area. Each one of these shows though will have a booth fee. Those fees have added up to nearly $4000 this year ($3666.73 to be exact). I'm not sure where to enter this amount though when doing her business taxes.
Is it "Legal and Professional Fees"? Building/Rental Fees?
I'm thinking the later as she's "renting" the space for the show for that given day/weekend/week right?
Guys, I must be doing something really wrong here. I changed jobs at the end of March 2010, so I have two W2s. Done this with both TaxAct and HR Block online and got differing, but similar results. Right after my W2s are entered, both will say my federal refund is ~1200. After I enter my 1099-INTs, 1099-R, 1099-SAN, and the 1098 that has the mortgage interest and property taxes, both programs dropped significantly. TaxAct drops the Federal refund to ~100 and HR Block says I owe ~30 dollars.
I thought you're supposed to get a large amount of that mortgage interest back? Everyone else I know that owns homes gets pretty large refunds because of it. What the heck am I doing wrong here?
If you have substantial amounts of income without withholding, then you're going to get different results from everyone else. Taxes aren't one size fits all, everyone's situation is different.