1098-T Box 1

Forum|Forum|5 years ago
January 19, 2021
2 replies
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My 1098-T Box 1 has $17,838.00 and Box 5 has $12,423.00. My W2 Box 14 has TUITION $6270.75

Am I eligible to claim a deduction or credit on my 1040 or should I be declaring income (and how much)?

Thanks.

PattiF

Any tuition benefits that you received from your employer that were greater than $5250 were included in Box 1 of the W-2. Just enter in your W-2 and 1098-T form into TurboTax exactly as the information is reported on the forms and TurboTax will walk you through steps to determine if you are eligible for any deductions or credits related to education. You do not need to do anything extra with this. See the section on Benefits over $5250 in link .Education and W-2 Tuition

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Hal_Al

Employee

Did your employer remit the the tuition assistance directly to the school or did they reimburse you? That is, does the box 5 (of the 1098-T) amount include any or all of the employer money? If so, how much?

I don't think that TT will not pick up the amount from box 14 (W-2) and automatically do something with it. You need to have a handle on your numbers. Is the box 14 amount all or just part of the employer reimbursement. Most likely $5250 is tax free and $1020.75 is already included in box 1 of your W-2.