S
Stephen
Guest
I was disappointed to find only $600 for my and my wife's total stimulus check. I finally pinpointed the reason (I think).
On our "married filing jointly" 1040 (line 49) we claimed $538 "Education Credits" (from form 8863, line 3 "qualified expenses" of $2688 multiplied by .20). Had we not claimed this our estimated stimulus check would have been $1118 instead.
My question is this: did claiming $538 in "Education Credits" really save or "give" us $538? If for example, our tax rebate was $1000 and we had NOT claimed the $538 credit, would our tax rebate have been only $462.
Just trying to figure this all out! Thanks for any advice!
-Stephen
On our "married filing jointly" 1040 (line 49) we claimed $538 "Education Credits" (from form 8863, line 3 "qualified expenses" of $2688 multiplied by .20). Had we not claimed this our estimated stimulus check would have been $1118 instead.
My question is this: did claiming $538 in "Education Credits" really save or "give" us $538? If for example, our tax rebate was $1000 and we had NOT claimed the $538 credit, would our tax rebate have been only $462.
Just trying to figure this all out! Thanks for any advice!
-Stephen