I wrongly inputted an amount for tuition fee and it was recorded under line 221. After I removed that number from tuition fee (as not qualified) but cannot remove that number from line 221
If you are in forms mode, search for Investment and click on *INVEST. You will be brought to the form "Statement of Investment Income". You will need to delete the appropriate entries on this form.
If you are in Easy Step, under your Profile => Personal tax profile, make sure you checkmark "I have incurred expenses to earn investment income...". (See picture) Click Continue.
Then under the Income & Expenses, you should see "Investment Expenses". Go through that portion of the Easy Step and delete the relevant entries.
Hi - I have checked Investment Expenses and I have none yet there is still a deduction under carry charges that I don't understand. How can I tell what I have entered that is causing it? Or any explanation somewhere of what entries might impact it?
If you are using the TTO:
- From the "Find" Engine on the top bar
- Search for Investment Expenses
- Will open a screen with the names that have Investment Expenses and checkmarks under the name
- Click continue
- Check if you have any Interest paid or money paid to acquire a partnership
If you are using TTD"
- Switch to the "Forms" mode from the top blue bar
- At the bottom, bar click on "Forms" beside you name
- Choose the "INVEST" form
- Check if you have any amount on line 221 for Carrying Charges
- You can update the amount in this form
If you still have issues after following this process, please contact our support line: https://support.turbotax.intuit.com/contact/
I hope this was helpful
Thanks for the reply but I am still no further.
I use TTO, I searched for Investment Expenses and nothing is checked. Continue through and nothing is ticked or has any values throughout. And yet there is still a carry charge in my deductions.
How can I just delete it?