Amend if received revised 1098-T?

[rvwtaxes]

Should I amend if I received a revised 1098-T with a significantly higher amount listed? It is over $7000 more than the previous copy.

[Leonard · Accepted solution]

Yes you should amend your return due to the significantly higher amount on your revised 1098-T

You will have to wait until the return is either accepted or rejected by the IRS.

If the return is rejected by the IRS you can revise your 1098-T  amount and refile your return.

If the return was accepted by the IRS then you will have to file an amended tax return using Form 1040X to revise your 1098-T amount. 

The FAQ link below provides information on how to amend your tax return.   

[Edited 03/10/2020 | 7:27 pm PDT]

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