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laurakmtz824
New Member

Can I file a 1098-T form along with my other w-2 forms?

 
5 Replies
Marketstar
Level 7

Can I file a 1098-T form along with my other w-2 forms?

Yes, you can and should claim your 1098-T (along with your W-2’s) for the following reasons

If your scholarships/grants (if any) exceed your Qualified Education Expenses, you are required to claim the difference as income.

If your educational expenses exceed your financial aid, you may qualify for an education credit.

So, you should claim both your financial aid as well as your qualified educational expenses.

 T o enter educational expenses:

·        Type in 1098-t in the search box, top right of your screen, then click the magnifying glass

·        Click the jump to 1098-t link in the search results

·        Follow to prompts and online instructions


Lopezjasmin1127
New Member

Can I file a 1098-T form along with my other w-2 forms?

What does it mean when TurboTax ask you how much money from your 1098t form was included in my w-2? I am a graduate student working a graduate assistant position where they pay some of my tuition and I get paid like any other job on campus.  

Hal_Al
Level 15

Can I file a 1098-T form along with my other w-2 forms?

Some schools  report that kind of income in both places (W-2 and box 5 pf the 1098-T).  They shouldn't.  You are expected to know if your school has done that and make the correction at that screen.

Lopezjasmin1127
New Member

Can I file a 1098-T form along with my other w-2 forms?

I see that my school included $xxxx amount in box 5 of my 1098t form and $xxx amount in box 1. Now what? do I contact my school? Box 5 on my 1098t form is a different number than my W-2 form in box 1.

- TYIA

Hal_Al
Level 15

Can I file a 1098-T form along with my other w-2 forms?

The fact that Box 5 of the 1098-T is not the same number as box 1 of the W-2 is not a guaranteed that there's no duplication.  If you don't know, then you may have to ask the school. 

 

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 deduction or possibly your 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)

You claim the tuition credit, or report scholarship income, based on your own financial records, not the 1098-T

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