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New Member
posted Oct 30, 2019 2:52:27 PM

The part on Nonrefundable tax credit for dependents seems to have an error in the formula (sum lines 3 to 19 in Schedule 1). The result is not equal to line 350!

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1 Best answer
New Member
Oct 30, 2019 2:52:32 PM

The schedule 1  includes all claimable non-refundable tax credits, including the Basic Personal Amount at field code 300 (line 1). The amount at field code 350 is the sum of all credits multiplied by 15% for the federal tax credit. Included in the field code 350 amount is also the total of the donations tax credit.

3 Replies
New Member
Oct 30, 2019 2:52:29 PM

So we should sum lines 3 to 19 and not just use line 350, although TurboTax Online's wording seems to suggest line 350.  Some has used line 350 instead of summing lines 3 to 19, from what I read in your Q&A!

New Member
Oct 30, 2019 2:52:30 PM

If you are calculating the amount of Eligible Tuition to transfer from a Child then use only the total sum of lines 3 - 19.

New Member
Oct 30, 2019 2:52:32 PM

The schedule 1  includes all claimable non-refundable tax credits, including the Basic Personal Amount at field code 300 (line 1). The amount at field code 350 is the sum of all credits multiplied by 15% for the federal tax credit. Included in the field code 350 amount is also the total of the donations tax credit.