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My school said I don’t qualify for a 1098 t. I received grants and loans for the school year. Why would they say that? Can I still receive the education credit?

 
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MeganS
New Member

My school said I don’t qualify for a 1098 t. I received grants and loans for the school year. Why would they say that? Can I still receive the education credit?

You can claim education credit or deduction even if you did not receive a form 1098T .  After you enter the school name in the Education section, you will be asked if you received a Form 1098 from this school.  Answer no, and you will be asked to enter the qualified expense on the next screen.  This will include all expenses whether paid by a loan or a grant.  Your grant income input will be asked for later and will reduce the qualified expense amount. Expenses paid for with school loans are the same as being paid by you and may qualify you for a credit.

 

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1 Reply
MeganS
New Member

My school said I don’t qualify for a 1098 t. I received grants and loans for the school year. Why would they say that? Can I still receive the education credit?

You can claim education credit or deduction even if you did not receive a form 1098T .  After you enter the school name in the Education section, you will be asked if you received a Form 1098 from this school.  Answer no, and you will be asked to enter the qualified expense on the next screen.  This will include all expenses whether paid by a loan or a grant.  Your grant income input will be asked for later and will reduce the qualified expense amount. Expenses paid for with school loans are the same as being paid by you and may qualify you for a credit.

 

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