I have an AmeriCorps Education Award and need to know if I have to fill out a 1098-T as well?

[vpuza2]

I accidentally filed my taxes before receiving my 1099-MISC in the mail. I am trying to amend my taxes but am confused on if I need to now delete my 1098-T. Originally, I filled out my 1098-T as I am a graduate student but the amount on the 1098-T is what I used from my Segal AmeriCorps Education Award, which is the amount on my 1099-MISC. I have amended the 1099-MISC in the appropriate area as I read in other questions that it falls in a different area than 'self-employment' but now do I have to delete the 1098-T? There is a considerable jump in what will be owed and I want to make sure I am correcting my mistakes in the right places before owing hundreds of more dollars. To be clear I have a 1099-MISC and 1098-T filled out with the same amount of money, but I do not know if I need to delete the 1098-T now that I have filled out the correct form for the Segal AmeriCorps Education Award. As simply as I can put it, do I now need to delete the 1098-T or can I still keep this form filled out and submit my amends? 

[KrisD]

Did you get an education credit on your original 1040? Did you have taxable scholarship (Schedule 1 line 21) on your original 1040? Is the amount in box 1 the same as box 5 on the 1098-T?

[vpuza2]

I'm embarrassed because I am having trouble locating this on my original 1040 but I can say that in my 1098-T there is nothing in box 5 and the only dollar amount is located in box 1.

[vpuza2]

I am only seeing Schedule 3 on my return and then Form 8863 if that aids in answering my question at all.

[KrisD]

If you didn't have taxable scholarship income, you may not have a schedule 1.

[vpuza2]

Does this mean that I can still have my 1098-T submitted and I can leave it as is with my updated form that includes the Education Award.

[KrisD]

Yes, sounds like you are eligible for the credit.

[vpuza2]

I just wanted to say thank you for clearing all of this up for me, KrisD. It really helped me understand what I needed to do and saved me a lot of extra money so thank you!

[KrisD]

My pleasure. Thank you for using TurboTax.

[KrisD · Accepted solution]

No, in your situation, there is no need to delete the 1098-T.

If you had the same amount inn Box 5, you would be double taxed on the scholarship, but that is not the case.

You are paying tax on the AmeriCorps scholarship, as you should be since it was reported on a 1099-MISC. 

Because you have to claim the scholarship as taxable income, you are allowed to use the expenese (1098-T Box 1) towards an education credit. 

I assume as a graduate student, you received the Lifetime Learning Credit. 

In your situation, you do not need to delete the 1098-T, 

Remember that the 1040X shows what you owe (or will get back) AFTER the original 1040 is processed. 

If you owe, you can pay that right away, make sure it is paid by April 15th, but if the original 1040 showed a refund, you will get that as well.