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How do I correct Form 1098-T

My Form 1098-T has an incorrect amount in box 1. How do I correct it? Am I allowed to correct it myself with a pen?

In December I paid for classes in Spring, but then I dropped one class and now qualified tuition is smaller by couple of thousands of dollars. I called financial services and they told me that they will not issue another form.

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2 Replies
Hal_Al
Level 15

How do I correct Form 1098-T

Not by pen, but you correct it at the 1098-T screen in TurboTax.

In the 1098-T screen, click on the link "What if this is not what I paid the school" underneath box 1. You will then be able to enter the actual amounts paid. 

 

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

 

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)

How do I correct Form 1098-T

Thank you.

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