First of all, I would suggest you delete both the Form 1099-Q and 1098-T and start over.
To delete, here are the steps:
In TurboTax online,
- Sign in to your account, select Pick up where you left off
- To your left, Select Tax Tools/drop-down menu
- Select Tools
- Under Other helpful links, choose to Delete a form
- Select Delete next to Form 1099Q and 1098Tand Continue with My Return to proceed
Here are the details:
If you have both Form1099-Q and 1098-T, you should enter the 1099-Q information first before entering the Form 1098-T.
For example, your total tuition amount paid on 1098-T is $10,000, your 1099-Q distribution amount is let's say $6,000, which is used to pay all qualified education expenses.
When you enter the 1099-Q, this should be a nontaxable event.
Then you go to Form1098-T and follow its prompts. If the difference between the 1099-Q distribution and Form 1098-T box 1 is greater than $4000 ( maximum amount expenses allowed to claim the American Opportunity Tax Credit AOTC), the program will guide you through the steps and calculates the $2,500 AOTC ( maximum allowed credit amount).
If the difference between the distribution and the tuition amount paid is less than $4,000, the program will prompt you to a screen where it asks you the difference between the two sources. The program will then calculate your share of the education credits on Form 8853 Education Credits. For example, your 1099Q distribution is 3000, Form 1098-T tuition is 5000, you would then enter 2000 on that screen.
Try to follow these instructions to re-enter your information.
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