1098T Scholarship income

[esilvia]

Last year (2024), I accidentally included the portion of my son's 1098T scholarship income that was for this year's expenses. What do I do now. Do I need to deduct something from this year's numbers?

[Hal_Al]

More details on what you did are needed. How did you "include it"?

[esilvia]

Well, I answered NO when TT asked if any of the scholarship income was not designated to pay 2024 education expenses. And now I don't know what to do with the 2025 amounts.

[Hal_Al]

What was the effect on your 2024 tax return. If you got the full tuition credit, then you do not need to amend your 2024 tax return.   

As for as your 2025 return, you need to consider that amount in calculating your 2025 tuition credit.  That is, when asked if there were any scholarships not included on the 2025 1098-T, answer yes and add that amount back. 

Here's a post on the five main points on form 1098-T:

https://ttlc.intuit.com/community/college-education/discussion/re-what-do-i-do-with-form-1098t/01/37...