1098T

Forum|Forum|3 years ago
February 8, 2023
2 replies
0 views

Hello. I am filing my taxes for the first time and wanted to add 1098T. Can I file both 1098T for the year of 2021 and 2022?

DavidD66

No, not on the same tax return. You can only file the 2022 1098-T on your 2022 tax return. Also, since this is your first time filing, if you qualify to be claimed as a dependent on someone else's tax return, then that person (or person's if filing joint) should report Form 1098-T.

**Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"

xmasbaby0

Employee

No. You cannot put a 2021 tax document on a 2022 tax return. You can amend 2021 to enter it for 2021 if it will affect your 2021 return.

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**

Hal_Al

Employee

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.

If you claim the tuition credit, you do need to report that you got one or that you qualify for an exception (the TurboTax interview will handle this).

If you are your parent's dependent, then your parent claims the education credit (and enters the 1098-T), not you. You enter the 1098-T, only if you have taxable scholarship.

_______________________________________________________________________________________

There's a new urban myth among college students that says they can get a $1000 from the government just for filing a tax form. For most of them, they simply aren't eligible. A full time unmarried student, under age 24, even if you don't qualify as a dependent, is only eligible for the refundable portion of the AmericanOpportunity Credit if he supports himself by working. You cannot be supporting yourself on parental support, 529 plans or student loans & grants. You usually must have actually paid tuition, not had it paid by scholarships & grants. It is usually best if the parent claims that credit.

You cannot claim a credit if you are, or can be, claimed as a dependent by someone else.

Reference: Line 7 instructions for form 8863. https://www.irs.gov/instructions/i8863