I put in my tuition costs but they were paid for by financial aid and not directly by my parents or myself. Will this require me to amend my tax return in any way?

[alyssarenee9]

I didn't receive my 1098- T form for 2016 yet so that is why I did put down that I had used financial aid for the tuition payments. But all other cost of books and supplies from the school and from third party sellers came out of my own pocket.

[AndreaG]

Financial aid is a loan and does NOT reduce your qualified education expenses for this credit. Please see page 14 of pub 970 under the heading, "amounts that dont reduce qualified education expenses". https://www.irs.gov/pub/irs-pdf/p970.pdf. However, the form 1098T is required to claim this credit so you will want to review this form when you receive it to verify the amount of tuition that was paid, if box 1 is filled in. If the amount in box 1 is different than the amount of expenses that you claimed, then you will need to amend your tax return. Additionally, if you received any scholarships, there will be an amount in box 5. Amounts in box 5 will reduce your qualified education expenses so you will need to amend your tax return. Please refer to the IRS copy of Form 1098T. https://www.irs.gov/pub/irs-pdf/f1098t_16.pdf. Additionally if you are a dependent taxpayer then your parents would need to claim the education credit on their tax return. Please refer to the following FAQs to learn more about the education credits and qualified expenses. https://ttlc.intuit.com/replies/3301953. https://ttlc.intuit.com/replies/5358152. https://ttlc.intuit.com/replies/5358149