My 1098-t box 1 is empty

Forum|Forum|5 years ago
July 14, 2020
1 reply
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There is a bill of 2065.65 which hasn't been paid yet but this is the information I received.
Do I need to file this?

TurboTax Live Deluxe Online

Hal_Al

Employee

Q.Do I need to file this 1098-T?

A. Simple answer: No. If box 1 AND box 5 are blank, you most likely have nothing to report.

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 your student has taxable scholarship income. You claim the tuition credit, or report scholarship income, based on your own financial records, not the 1098-T.

Q. There is a bill of 2065.65 which hasn't been paid yet. Will I be able to claim it when I pay it?

A. Probably not. If the bill is for 2019 tuition and you don't pay it until 2020, you may not claim a tuition credit on either your 2019 or 2020 tax returns. Tuition must be paid in the year of the courses, with one exception; you may pay for the Spring 2020 term in 2019.