I filed taxes before receiving my 1098-T and entered my expenses manually. I also put in my school's EIN wrong. I claimed AOTC. I have my 1098-T now, should I amend it?

[allisonstamatell]

This is my first time filing taxes and I have not previously claimed the AOTC, but since other members of my family have the same experience and they are not receiving a refund, I'm feeling I did it wrong.

[DavidD66]

You may want/need to file an amended return; however, do not do anything with your return until you have received your refund, or a rejection notice.  If your return is rejected, you can make changes to the return (e.g. enter your 1098-T).  Please note, if you can be claimed as dependent by your parents (or anyone else) then they should be the ones to report the Form 1098-T.  The TurboTax "Amend" feature is not yet available, but should be in late February.

[allisonstamatell]

Thanks! I don't believe I can be claimed as a dependent, and my return was already accepted. If I receive my refund and amend my form, do I need to return the refund with interest included? Also, the form had the same amount I manually entered. Would the lack of a 1098-t have been the problem? Or was it the EIN? Thank you again. 

[MichaelG81]

It depends, if your 1098-T is much different in amounts reported by you it could have a positive or negative affect on your refund. The IRS may not approve and if rejected just fix the errors and re-enter the correct numbers for EIN and amounts in the Boxes of Form 1098-T, and also all your other educational related expenses. 

According to the IRS: 

April 18 tax deadline: This year, the filing deadline is April 18 for most taxpayers, but automatic six-month extensions of time to file are available for anyone for free. See Extension of Time to File Your Tax Return for instructions. Taxpayers should be aware that filing Form 4868 only extends the time to file tax returns. Those who owe taxes should still pay by April 18 to avoid late payment penalties.

If you owe:  after amending or fixing a return (if rejected), if they refunded the money, you can send in before April 18, 2023 to avoid penalties.

@allisonstamatell