Do I have to file my 1098-t form? Box 5 is lower than box 1.

alondramuniz1 · ‎January 30, 2023

MinhT1 · ‎January 30, 2023

Yes.

Form 1098-T reports tuition you paid to a qualified educational institution and the scholarships you received during 2022. You have to enter it on your tax return in order to claim education credits such as the American Opportunity tax credit or the Lifetime Learning credit.

To enter your form 1098-T in TurboTax, follow these steps:

Open your tax return
Click on Federal in the left panel.
Click on Deductions & Credits at the top
Scroll down to the Education section. Click Show more
Select Start next to Expenses and Scholarships (Form 1098-T)
On the next page, click on Add a Student. Or if the student has already been added, click on Edit next to the name of the student. After a few screens, answer Yes on the page Did [student] get a 1098-T for the year 2022?

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Hal_Al · ‎January 30, 2023

Q. Do I have to file my 1098-t form?

A. No. But, most people want to because of the education tax credit.

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 (or your parents, if you are a dependent) are either eligible for a tuition credit or possibly your student has taxable scholarship income (tit usual if box 1 exceeds box 5).

If you claim the tuition credit, you do need to report that you got a 1098-T or that you qualify for an exception (the TurboTax interview will handle this)