1098-T

[ser96]

Does the 1098-T need to be reported?

[SharonD007]

Yes, report your 1098-T on your tax return for yourself, your spouse, or your dependent.  It includes payments received by the institution for tuition, scholarship and grant info,, and adjustments.  The information on the 1098-T needs to be reported to claim education credits.

For additional information, refer to the TurboTax articles Guide to Tax Form 1098-T: Tuition Statement and What Are Education Tax Credits? 

[Hal_Al]

Q. Does the 1098-T need to be reported?

A. No.

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 (usually the student's parents) are either eligible for a tuition credit or possibly the student has taxable scholarship income. 

If you claim the tuition credit, you do need to report that you got one or that you qualify for an exception (the TurboTax interview will handle this). Entering the 1098-T makes the education interview go smoother.

You claim the tuition credit, or report scholarship income, based on your own financial records, not the 1098-T. In the 1098-T screen, click on the link "What if this is not what I paid the school" underneath box 1. You will then be able to enter the actual amounts paid. You will also reach a screen that allows you to adjust the scholarship amount for "amounts not awarded for 2023 expenses".

Or if you find it easier, just change the numbers in boxes 1& 5 to what your records show. The 1098-T that you enter in TT is not sent to the IRS.