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April 12, 2020
Question

Why didn’t my 1098-T form increase my tax return amount ? I paid nearly $5000 in interest alone

  • April 12, 2020
  • 1 reply
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1 reply

KrisD15
April 13, 2020

A 1098-T reports tuition and scholarships. 

It is used by the student or, if the student is a dependent, the taxpayer that claims the student. 

 

A 1098-E reports interest paid on a student loan. Student loan interest lowers your taxable income which does not guarantee that it will lower your tax liability or increase your refund.  

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