1098-T Box 6

[gab14]

My 2021 1098-T form shows an amount for box 6, should I amend my 2021 tax return to reflect this change? Even if I didn't claim an education credit? 

[ThomasM125]

Box 6 on a form 1098-T lists adjustments to amounts reported on a prior year form 1098-T. If you didn't claim an education credit, you don't need to amend for that reason, but if the scholarship income increased it could represent taxable income that would have to be reported. This would only be true if your scholarship income was more than your qualifying education expenses.

The best thing to do would be to amend the prior year return to see if there is a balance due or refund, and then file the amended return only if your tax changed.

You can file an amended return using TurboTax for no additional fee. You will see the option on your Home Page in TurboTax, then under Your tax returns and documents, look for an option to Amend/Change your return. You should wait until you receive your refund or the IRS has processed your return, if you sent a payment, before you amend your tax return. That is because they may adjust the return and you need to account for that when you amend your return

[Hal_Al]

Q.  My 2021 1098-T form shows an amount for box 6, should I amend my 2021 tax return to reflect this change? Even if I didn't claim an education credit? 

A. Probably not.  When there's amount in box 6, you essentially need to know what it's all about and whether it affects your previous year's filing. 

The 1098-T is only an informational document. The numbers on it are not required to be entered onto your tax return. However receipt of a 1098-T frequently means you are either eligible for a tuition credit or possibly your student has taxable scholarship income. You claim the tuition credit, or report scholarship income, based on your own financial records, not the 1098-T.