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Ryansma64
Returning Member

1098-T

I just recieved a 1098T form that I wasnt aware I would be receiving but unfortunately I already filed my 2019 state and federal taxes online. Ive noticed from other Q&As that when this happens, a lot of the concern is due to any scholarships people recieved or if the amount listed in box 5 is greater than the amount listed in box 1, but in my case because I have never recieved any scholarships box 5 was left empty and only the amount I paid out of pocket is marked in box 1 on my form. So my queateion is , is there anyway for me to add this information to my 2019 tax papers of I already electronically filed then through turbo tax and if so how? But if i can't adjust this information since I already filed , how will/would have this 1098T form(box5 is blank) affect my returns ? Thank you ohh n advance!

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1 Reply

1098-T

Are you a dependent on anyone else's tax return?  If so, the 1098T goes on their return.

 

 

You cannot change or add anything on the return that you just e-filed, nor can you stop it.  It is too late, just like when you put an envelope in a US mailbox on the corner.

 

If you left out a W-2, or a dependent, or a 1099 etc…DO NOT change your return while it is pending.  The changes will go nowhere.

 

Now you have to wait until the IRS either rejects or accepts your return.  If your return is rejected, you will be able to go into your account and make the necessary changes to your tax return and re-submit your return.

 

 If the IRS accepts your return, however, then you have to wait longer until it has been fully processed and you have received your refund.  THEN you can prepare an amended tax return and mail it in. You have to be able to work from that return exactly the way it was when it was e-filed originally.  You will need to use a form called a 1040X. You cannot e-file an amended return.  They have to be mailed, and it takes at least 2-4 months for the IRS to process an amended return.

 

 Meanwhile, DO NOT go in and start changing anything on your return in the system, or you will make a mess for yourself.  Sit tight and wait until you see what the IRS does with the return you just e-filed

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**
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