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Saravia

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About Saravia

  • Rank
    Newbie

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  • State
    CA
  1. Just for testing, I added an addition 5K to the w2, but AOC still shows 0. Any thoughts? Thanks, Pat
  2. Sorry I checked the box "Candidate for a degree" and now his taxable income from the scholarship is only $2545 ( 23050 - 20505) which seems to be correct. And this change seems to disqualify tax payer from the American Opportunity Credit. Does this sound correct? Thanks for all the help. Pat
  3. Box9 - does not have a check mark. Would the 23,050 be consider taxable income?
  4. No, he does not have a degree yet, this is his 3 year will be graduating next year.
  5. Hello Everyone, I am needing some assistant in the followings: Taxpayer is 21, - Full time student, and is not a dependent. He worked earned income $5K, and unemployment $16K. 1098T - Box 1 - 20,505 and Box 5 - 23,050 I entered the information as it appears on 1098T, and the system is bringing the full $23,050 as taxable. He received FAFSA and CAL GRANTS, all funds were used to pay tuition, books and materials to use for school. I am under the impression only a small portion will be taxable and there rest nontaxable, but the full $23050 are being added to
  6. General Partnership (2 partners - sisters) with 7 Rental properties and 1 addition property use for personal use, home office and to handle property management and garage use to store misc material and tools for Repair and maintenance of rental properties. 7 Rental properties have been added to Form 8825 listing all related expenses and depreciation. Additional property used 50% for personal and 50% for other business and rental properties related items was listed to add to form 1065 for depreciation purposes and to add the Value on the Balance sheet portion Schedule L1. K1 was gen
  7. General Partnership (2 partners - sisters) with 7 Rental properties and 1 addition property use for personal use, home office and to handle property management and garage use to store misc material and tools for Repair and maintenance of rental properties. 7 Rental properties have been added to Form 8825 listing all related expenses and depreciation. Additional property used 50% for personal and 50% for other business and rental properties related items was listed to add to form 1065 for depreciation purposes and to add the Value on the Balance sheet portion Schedule L1. K1 was gener
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