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March 9, 2021
Question

Turbo Tax

  • March 9, 2021
  • 2 replies
  • 0 views

I put in the exact numbers that were on the 1098-T form but it keep showing that one of the numbers can't be greater than the other one.  It has the same amount in both boxes. What do I do?

    2 replies

    Employee
    March 10, 2021

    Which two boxes?  Also be sure you didn't type a comma in place of a decimal, or vice-versa.

    March 10, 2021

    If you have a 1098-T with a larger amount in Box 1 (Tuition) than in Box 5 (Scholarships), you may qualify for an Education Credit.

     

    However, if Box 5 (Scholarships) is larger than Box 1 (Tuition), you may have Taxable Scholarship Income.

     

    But if Box 1 and Box 5 are equal amounts, you don't qualify for a credit and don't need to enter your 1098-T in TurboTax.  Just keep it for your records.

     

    Click this link for more info on How to Enter a 1098-T