Solved: Incorrect 1098-T - Intuit
Feb 8, 2021 · You realize you claimed an expense, deduction, or credit that you weren't eligible to claim. See this article and this one for more information on filing an amended return with TurboTax. The IRS does match information on filed returns with Forms 1098-T filed by the educational institutions, so you might get a notice.
Who files the 1098-T form? The parent or the student?
Jan 27, 2025 · The 1098-T is only an informational document. The numbers on it are not required to be entered onto your tax return. However receipt of a 1098-T frequently means you are either eligible for a tuition credit or possibly your student has taxable scholarship income (in which case the student files it).
Where do I enter Form 1098-T (Tuition Statement)?
Enter your 1098-T exactly as is, even if the amounts are wrong (this is common). You'll get a chance to correct this info and enter additional expenses later on. Leave blank boxes blank. Don't enter 0 for any blank boxes on the form, as this generates errors. Parents: If the student listed on the 1098-T is your dependent, enter the 1098-T on ...
My son recieved a 1098 T form, do I use it for my tax return? - Intuit
May 31, 2019 · So, as my daughter is a dependent, I report the 1098-T and 1099-Q on my return, not hers, even though her social is listed as the recipient for both (and turbo tax instruction says to put 1099-Q on whoever's social is listed).
1098-T Box 5 (scholarships) greater than Box 1 (tuition)
Feb 19, 2025 · On my 2023 1098-T, box 7 was checked, meaning my Spring 2024 tuition was included in 2023’s reported tuition. However, the scholarships and grants for Spring 2024 were NOT included on my 2023 1098-T—instead, they are only showing up on my 2024 1098-T. Because of this, my 2024 1098-T now reflects onl...
Where does the info from 1098 T show on the 1040? - Intuit
Feb 21, 2024 · The numbers on the 1098-T are use to calculate a tuition credit, or sometimes to calculate taxable scholarship. The calculations are done on form 8863. The calculations are done on form 8863. If a credit is calculated, the non refundable portion goes on line 3 of Schedule 3, then Line 20 of Form 1040.
Solved: I’m the parent and my children received there 1098-T
Jan 23, 2020 · A. Yes, that's the general rule. But, no, it's not EVERY time. Frequently, both the student and the parent will enter the 1098-T, as the parent claims the tuition credit and the student declares scholarship income. The 1098-T is only an informational document. The numbers on it are not required to be entered onto your tax return.
Solved: 1098-T Box 1 Incorrect - Intuit
Feb 5, 2020 · The payments received by my educational institution from spring 2019 to fall 2019 were a total of $28,446, yet box 1 on my 1098-T says $10,010. The amount billed from spring to fall is $28,446 (but there is nothing in box 2). Box 5, scholarships or Grants is $19,040 for spring through fall. If I use...
Solved: 1098-T High school student - Intuit
Jun 4, 2019 · 1098-T High school student With the additional information provided, it seems like he has excess education expenses after what the scholarship covers. ( 144-72) Therefore, he will be able to claim a small amount of the education credit for the $72.
1098T and who's return (student or parent or both) if claiming
Mar 26, 2023 · To find out what are qualified educational expenses, please review the Guide to Tax Form 1098-T: Tuition Statement and the IRS link on Qualified Education Expenses. To determine if you need to report the 1099-Q, add up the tuition paid from the 1098-T in box 1 plus the qualified education expenses and subtract any amount that may have been ...