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March 18, 2024
Question

If my daughter got a partial refund from a college that is not reflected on the 1098-t, where can I enter the refunded amount?

  • March 18, 2024
  • 2 replies
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The refunded amount resulted in a large difference between the 1099-Q and the 1098-T.

2 replies

March 18, 2024

The amount used for claiming education are qualified education expenses you actually paid to the school in 2023 which should be shown in box 1 of form 1098-T.

 

If your box 1 does not show the correct amount paid, when filling out your form 1098-T in TurboTax, just enter the amount in box 1 of your form 1098-T on the entry screen.

 

Under box 1, on the 1098-T screen is a radio button: This is not what (student name) paid to this school. Click on that and you will be given a chance to enter what was actually paid in 2023, i.e. net of the refund.

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Hal_Al
Employee
March 18, 2024

Q. The refunded amount resulted in a large difference between the 1099-Q and the 1098-T?

A. That's not unusual.  The 1098-T only shows tuition and fees (box 1) and scholarships (box5).

 

Room and board (R&B), books, a computer and other course materials do not show on the 1098-T but are also qualified expenses for the 529 plan distribution, shown on your1099-Q. 

 

Educational expenses can be allocated to the 529 distribution, scholarships or the tuition credit, as needed for the best tax benefits.