Question

Do i have to add the 1098 or can i continue and submit without adding it?

Forum|Forum|4 years ago
February 14, 2022
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TurboTax Deluxe Online

Employee

What kind of 1098? A 1098 for mortgage interest? A 1098T for tuition? A 1098E for student loan interest?

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V

Vanessa A

No, you do not have to add the 1098 unless it is a 1098-T that is showing you had scholarship income greater than your education expenses. If that is the case then it is taxable income. Otherwise, you do not have to enter it, although entering it could allow you to claim an education credit if no one else can claim you as a dependent and you meet certain other criteria. If someone else can claim you and your scholarship income is not greater than your educational expenses, then the person that can claim you may want to enter your 1098-T so they can take the education credit.

If it is a 1098 for mortgage interest, you would only enter that if you are itemizing your expense.

If it is a 1098-E for your student loan interest, you only need to enter that if you are taking that deduction. You cannot take the student loan interest deduction if you are married filing a separate return.

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