1098-T how do i post the numbers?

Forum|Forum|5 years ago
February 28, 2021
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I am preparing my daughters taxes who is married and has a child. She is a full time student for all of 2020 and received a 1098-T from her college. Box 5 reports 22634.00 for scholarships and grants and box 1 reports 18408 for received tuition and related expenses. The form does not allow me to enter in her 2020 Tuition and Enrollment fees onto the form. It says I entered this in earlier and can not find were to insert the numbers. Please help.

JoannaB2

If it didn't allow to enter the tuition paid, you can delete the form and re-enter the 1098-T on your income tax return. To delete a form in Turbo Tax:

Login to Turbo Tax.
In Tax Home Screen, click Tax Tools, then Tools.
Under Tax Tools Center, scroll down and click delete a form
Under Review List, scroll down and choose 1098-T, click delete.

The 1098-T is used to report qualified tuition expenses paid to a higher educational institution to get degree or diploma. If you received the form, you need to file it on your income tax return. The amount on box 1 was the tuition you paid to the school and box 5 was the amount of your scholarship. If the amount of box 1 is higher, you may claim a credit up to $2,500, if qualified, If the amount on box 5 is more than box 1, you may have a taxable income.

The American opportunity tax credit (AOTC) is a credit for qualified education expenses paid for an eligible student for the first four years of higher education. You can get a maximum annual credit of $2,500 per eligible student, and 60% of the credit is non-refundable which is used to lower liability and the remaining 40% will be refunded on the return.

Hal_Al

Employee

Go through the entire education interview until you reach a screen titled "Your Education Expenses Summary". Click edit next to the student's name. That should take you to a screen “Here’s your Education Summary”. Click edit next to the section you want to change; tuition, in your case (click edit next to the school name).