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February 20, 2020
Question

My school gave incorrect information on my 1098-T form for #1

  • February 20, 2020
  • 2 replies
  • 0 views
I already filed my taxes with the incorrect version. What do I do?

2 replies

February 20, 2020

If you have already filed, you have to wait to see if your return is rejected or accepted.

 

If your return is rejected by the IRS, you can correct the 1098-T entry, then re-file your return.

 

If your return is accepted, you'll need to amend your return. Please note that the amended form will not be ready before end of February.

 

To amend your return, please follow the instructions in this TurboTax Help topic.

 

This is how you will enter the correct amount of tuition paid:

 

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 2019.

 

 

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Hal_Al
Employee
February 21, 2020

The 1098-T is only any informational document. The numbers on it are not required to be entered onto your tax return. 

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

 

So, does the correction make a difference to your bottom line?  If so and you owe the IRS money, you are required to file an amended return. You should wait until your original return is fully processed (you get your refund).  If the change is in your favor, you can decide if the additional amount is worth the hassle.  You can also ignore it if only a small amount is owed to the IRS.

 

How to amend https://ttlc.intuit.com/questions/1894381-how-to-amend-change-or-correct-a-return-you-already-filed