I mistakenly added the wrong student's data from box 1 on the 1098-T off by $500 does that matter? Do I need to amend his taxes?

If you allocated an education credit to the wrong student, you do need to amend. Once you are certain that your return has been filed and accepted, read on for instructions on how to amend:

1. Sign in to TurboTax.
2. Scroll down to Your tax return & documents (you may need to select Show), select 2019 and then Amend (change) return.
   • If you only see the option to amend 2018 or earlier, it's because you can't amend an unfiled 2019 return. Instead, just select Pick up where you left off, make your changes, and disregard the rest of these instructions.
3. Select Amend using TurboTax Online.
4. Carefully follow the instructions. Don't worry if your refund changes to $0. This is normal on amended returns.
5. When finished, we'll give you instructions for printing and mailing your amended return, as amendments can't be e-filed.

Three weeks after mailing your amended return, you can start tracking it at the IRS Where's My Amended Return? tracking tool.  Please allow at least 16 weeks for the IRS to process your amended return.

Processing times for amended state returns vary from state to state. If it's been more than 12 weeks since you mailed your amended state return, and you haven't heard anything, we suggest you contact your state tax agency.