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Level 1
January 30, 2023
Question

1098-T

  • January 30, 2023
  • 3 replies
  • 20 views

I just e-filed my taxes for 2022, but did not add any information from form 1098-T.  When asked about education, I was asked if I was attending college, but I graduated in Dec 2022 so I said no.  Do I need to amend my return?

3 replies

Hal_Al
Level 15
Level 15
January 30, 2023

Q. Do I need to amend my return?

A.  Probably.  It depends on your numbers.

 

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. 

 

Even though the most generous tuition credit is limited to being claimed 4 times (by either the student or his parent), there is a lesser credit available in the graduation year (typically the 5th year).

 

There's even a loop hole available to claim the credit, if you are on scholarship.

CatinaT1
Alumni - Intuit
January 30, 2023

It depends. You can start an amendment to see if it makes any difference. If it doesn't you can just delete the amendment.

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Hal_Al
Level 15
Level 15
January 30, 2023

If you were  (or could be) your parent's dependent in 2022, they should claim the credit, not you.