ed credit claimed last year erroneously

[schirallicpa]

I'm thinking that a few years ago I had another client where this happened and we did not amend the prior year return, but reported the credit as income.  But where?  Is this a line 21 item?  (American opportunity credit.)  I wish the universities had better reporting methods!

 

 

[schirallicpa]

Make my own correction - it wouldn't be income, it would be re-capture of credit.  But still don't know where.....

[RitaB]

26 minutes ago, schirallicpa said:

I'm thinking that a few years ago I had another client where this happened and we did not amend the prior year return, but reported the credit as income.  But where?  Is this a line 21 item?  (American opportunity credit.)  I wish the universities had better reporting methods!

I think you recaptured a credit in the past (as a credit is a reduction in tax not a reduction in income).    Ok, you caught that. 

The Instructions for Form 8863 talk about it on page 5.  On the 2018 forms (grrrrr), you'd go to Form 1040, p. 2, Line 11a.  Right click it and there's a worksheet.  The recaptured credit goes on line 8 of the worksheet.  Should print "ECR" to the left of Line 11,  if I recall.

[schirallicpa]

ah-ha!

 

[schirallicpa]

thank you!!

 

[RitaB]

18 minutes ago, schirallicpa said:

thank you!!

 

My pleasure!  I had to look back at the 2017 forms to get a grip on where it goes.       These new forms are the worst.