2004299
I am preparing my daughters taxes who is married and has a child. She is a full time student for all of 2020 and received a 1098-T from her college. Box 5 reports 22634.00 for scholarships and grants and box 1 reports 18408 for received tuition and related expenses. The form does not allow me to enter in her 2020 Tuition and Enrollment fees onto the form. It says I entered this in earlier and can not find were to insert the numbers. Please help.
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If it didn't allow to enter the tuition paid, you can delete the form and re-enter the 1098-T on your income tax return. To delete a form in Turbo Tax:
The 1098-T is used to report qualified tuition expenses paid to a higher educational institution to get degree or diploma. If you received the form, you need to file it on your income tax return. The amount on box 1 was the tuition you paid to the school and box 5 was the amount of your scholarship. If the amount of box 1 is higher, you may claim a credit up to $2,500, if qualified, If the amount on box 5 is more than box 1, you may have a taxable income.
The American opportunity tax credit (AOTC) is a credit for qualified education expenses paid for an eligible student for the first four years of higher education. You can get a maximum annual credit of $2,500 per eligible student, and 60% of the credit is non-refundable which is used to lower liability and the remaining 40% will be refunded on the return.
Go through the entire education interview until you reach a screen titled "Your Education Expenses Summary". Click edit next to the student's name. That should take you to a screen “Here’s your Education Summary”. Click edit next to the section you want to change; tuition, in your case (click edit next to the school name).
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