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Level 5
posted May 26, 2025 10:15:55 PM

If itemized deductions are $2K less than the standard deduction, will 1098-T Box 1 minus Box 5 = $8,000 push me over the standard deduction amount?

Currently, my itemized deductions are $2,000 less than the standard deduction.

 

Box 1 on my son's 1098-T is $15,000 and Box 5 is $7,500.

 

If I enter my son's 1098-T and $500 in Other Educational Expenses, will my itemized deductions be greater than the standard deduction?

 

Thanks!

 

Q

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1 Best answer
Level 15
May 27, 2025 4:39:27 AM

Educational expenses are not a deduction, at all (not itemized, not an adjustment to income).  Instead, your (or your dependent's) educational expenses qualify you for a tax credit, a deduction from your calculated tax (not a deduction from your income before your tax is calculated).  

 

Your $8000 of net qualified expenses will get you the maximum AOC or 80% of the maximum LLC. 

2 Replies
Level 15
May 27, 2025 3:43:16 AM

Education expenses are not an itemized deduction.

Level 15
May 27, 2025 4:39:27 AM

Educational expenses are not a deduction, at all (not itemized, not an adjustment to income).  Instead, your (or your dependent's) educational expenses qualify you for a tax credit, a deduction from your calculated tax (not a deduction from your income before your tax is calculated).  

 

Your $8000 of net qualified expenses will get you the maximum AOC or 80% of the maximum LLC.