Am I supposed to enter my 1098-T form from 2019 or 2020?

A prior year form can only be claimed/reported in the tax year for which it was issued. So if you have a 2019 form 1098-T, you have to file an amended 2019 tax return to claim/report it.

What is Form 1098-T?

Form 1098-T Tuition Statement reports payments received for qualified tuition and related expenses, certain adjustments, and scholarship or grant amounts for the prior year. This information may be used on your tax return to claim related education deductions and credits, such as the American Opportunity Tax Credit or Lifetime Learning Credit. Scholarships or grants may reduce the amount that qualifies for a credit or deduction.

In particular, this form reports:

• The filer's name, address, phone number, and employer identification number
• The student's name, address, and taxpayer identification number
• Payments received for qualifying tuition and related expenses, as well as any adjustments
• Scholarships or grants, as well as adjustments to scholarships or grants
• Any amount of insurance contract reimbursement or refund
• Student status

What qualifies as related expenses for a Form 1098-T?

In addition to qualified tuition, the IRS defines related expenses for this form as fees and course materials required to be enrolled at or attend an eligible educational institution.

This doesn't include courses for sports, games, or hobbies, unless that course is part of a degree program or taken to acquire or improve job skills. It also does not include costs for room, board, insurance, medical expenses, transportation, and living expenses.

Have there been tax-related changes to tuition payments in 2020?

Deductions and credits related to qualified tuition payments has not changed for tax year 2020 other than standard inflation adjustments, where applicable.

Once you receive any necessary 1098 forms, you can input them into TurboTax. Then, TurboTax will use the information to help you complete your tax return, including any deductions or tax credits you may qualify for so you can get every dollar you deserve.