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January 27, 2021
Question

My 1098T amount is not reflecting in my final amount for my return. I’m only showing federal and state?

  • January 27, 2021
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I filed my 1098T form and it told me how much I qualified for but on my total return amount it only shows state and federal

1 reply

January 27, 2021

Yes, when you complete the entries for the 1098T, Tuition Statement, you may qualify for one of the Education Credits on your return which will reduce your federal tax liability and increase your refund/return. 

 

If box 5 of the 1098-T contains a larger amount than box 1, you may not qualify for an education credit. 

 

If all the scholarship money received was used for "Qualified Education Expenses", you may be able to report some of the excess as taxable Scholarship income and qualify for an Education Credit.  

 

See the following for definition of Qualified Education Expenses":

Qualified Education Expenses

 

Please refer to the following for additional information on claiming scholarship as income:

I'm filing for my nephew who is a college student.... (intuit.com)