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Question

Do I need to file my 1098t forms? Because when I tried to file it my face return income went down. Do I have to file my 1098t forms for 2020

Forum|Forum|5 years ago
February 27, 2021
1 reply
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TurboTax Free Edition Online

Employee

Q. Am I required to file my form 1098-T?

A. No, but maybe.

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 deduction or possibly the student has taxable scholarship income.

If you are the student (not the parent), and box 5 of the 1098-T exceeds box 1, you most likely have taxable scholarship income. That would explain the "refund meter" going down.