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Tax Return Filed

February 25th, 2019 at 07:55 pm

I could have filed much earlier this month, but honestly it was wearing me out each time I attempted it.

Each of the two colleges we are working with fill out their 1098-T forms slightly different. One school includes the books, the other does not. One school includes the required activity fee and the other does not. I was a bit surprised by this, but found a resource that schools should be using as guidance for filling out these forms and used that as my guideline. We also had money paid on our behalf by the VA, but have to pay back, that was not reflected, nor did H&R block have a way to ask or handle this situation. This probably makes no sense to most of you, but just know that different institutions fill out their 1098-Ts differently based on their interpretation of the law. I think some parents/students at one institution are probably losing out on some qualified expenses if they only rely on the 1098-T.

I feel 99% confident I did it correctly. We claimed the American Opportunity Credit for both girls this year. Neither one them had expenses that qualified for the full amount offered, but we ended up with a refund of $1,968.

It's been a few years since we had a refund as I've been able estimate our future tax and withholding pretty well. This year I forgot about the Dependent Tax Credit ($500) for a dependent that qualifies over 18. This was $1000 in our favor. I also decided to claim the AOTC for our younger daughter, although originally wasn't going to.

I'm pretty sure this money will go towards future college expenses rather than the Big Goal.

Have you completed your taxes?

Edited to add: We do file state income tax, but our home state does not tax active duty military wages, so no refund or payment ever required unless I start working or we earn a LOT of interest.

4 Responses to “Tax Return Filed”

  1. crazyliblady Says:

    I finished mine and filed on the first day we could file. I already spent my refund and money saved to buy a new-to-me car. It feels good to have a paid-off car that has working a/c, heat, and has NO leaks any where. Woo-hoo!

  2. Kymberlee Fisher Says:

    I finished and filed mine last weekend. I am getting $400 back from the federal and I owe the state $20

  3. rob62521 Says:

    We have to wait to file our taxes on one tax document that won't be available until March 15. It is frustrating, but it is the way it is.

  4. LuckyRobin Says:

    We sent ours off about ten days ago.

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