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orwigcale
New Member

Do I need to amend my filed 2020 taxes if I got my 1098-T after already filing

 
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2 Replies

Do I need to amend my filed 2020 taxes if I got my 1098-T after already filing

If you have already filed your return, you need to wait and see whether your return gets accepted or rejected. The IRS currently won't start accepting or rejecting returns until February 12, 2021.

 

  • If your return is rejected by the IRS, then all you have to do is make the changes on your return and resubmit the efile.
  • If your return will be accepted by the IRS, then you have to file an amended return (1040-X) to make changes. But you might want to wait until your refund or payment is fully processed.  In the meantime, do NOT make any changes to your original filing.  Also be aware that Form 1040-X can take several months to process.
KrisD15
Expert Alumni

Do I need to amend my filed 2020 taxes if I got my 1098-T after already filing

Additionally please remember that if you are a dependent (meaning someone else claims you on their tax return such as your parents), and the 1098-T generates a credit (more expenses were paid than scholarships/grants received) the person that claims you as their dependent reports the 1098-T and claims the credit. (If there is tax due (more scholarship than tuition/fee/books) there might be taxable income to claim and you would need to claim that taxable income on your return. 

 

Please click here for more information from TurboTax about Education Credits

 

@orwigcale

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