`
cancel
Showing results for 
Search instead for 
Did you mean: 
Highlighted
New Member

I have my 1098-t form but it only includes the amount billed, but not my pell grant, do i file my pell grant?

I started college the begining of this year (2017). Not sure how to fill this out
1 Best answer

Accepted Solutions
Highlighted
Level 4

I have my 1098-t form but it only includes the amount billed, but not my pell grant, do i file my pell grant?

You should enter the 1098-T as it is, but don't add the Pell Grant in if it isn't on the 1098-T.

Schools often bill in December for classes that start in January.

When you get to the screen where you enter box 2, be sure to click on "What if this is not what you paid" and enter 0 if you made no payments.

You get credits by what you pay in a year. If the Pell Grant pays in 2017, you will report it then.

It is always important to enter all information from tax documents into TurboTax properly.

A 1098-T is generated by an eligible educational institution which sends one copy to the student, and another to the IRS. The 1098-T contains information that might result in a credit for you, but it might also prompt TurboTax to alert you as to a possible tax liability for you or your dependent.  Inputting data from the 1098-T, along with completing corresponding interview questions, will allow the TurboTax program to process your information correctly.

For more information about Education Credits, and Scholarships and Grants, click the links below.

CLICK HERE for TurboTax information about available Education Tax Credits

CLICK HERE for IRS information about Education Credits  


View solution in original post

1 Reply
Highlighted
Level 4

I have my 1098-t form but it only includes the amount billed, but not my pell grant, do i file my pell grant?

You should enter the 1098-T as it is, but don't add the Pell Grant in if it isn't on the 1098-T.

Schools often bill in December for classes that start in January.

When you get to the screen where you enter box 2, be sure to click on "What if this is not what you paid" and enter 0 if you made no payments.

You get credits by what you pay in a year. If the Pell Grant pays in 2017, you will report it then.

It is always important to enter all information from tax documents into TurboTax properly.

A 1098-T is generated by an eligible educational institution which sends one copy to the student, and another to the IRS. The 1098-T contains information that might result in a credit for you, but it might also prompt TurboTax to alert you as to a possible tax liability for you or your dependent.  Inputting data from the 1098-T, along with completing corresponding interview questions, will allow the TurboTax program to process your information correctly.

For more information about Education Credits, and Scholarships and Grants, click the links below.

CLICK HERE for TurboTax information about available Education Tax Credits

CLICK HERE for IRS information about Education Credits  


View solution in original post