Do I have to amend 1098T if I had financial aid?Turbotax says I can get money back, but I have to pay 3 times more to file it. Is it a must? boxes 1&5are exactly the same

[AmyC]

Oh, what a a tricky slope with the boxes being the same.

Most people subtract box 1 from box 5 and enter the difference as income. That is only one method. The other method is to actually increase your income and tax liability a little but dramatically increase your education credit.

You have options:

• do nothing since they match, no credit, no income.
• you can claim some of box 5 as income and then use that amount for education credits. Plus, I bet you had more expenses for your education.

Here is what you could be missing:

 What education tax credits are available?

Why is my scholarship taxable?

What are examples of education expenses?

[bakhtiariazad-mo]

Thank you very much!