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sammi6989
New Member

On my 1098-T is it just for my student loans or are my grants and tribal included?

 
3 Replies
CarolC
Level 6

On my 1098-T is it just for my student loans or are my grants and tribal included?

Your Form 1098-T, Tuition Statement, includes the payments your school received for qualified tuition and related expenses.  Generally, scholarships and grants will be included in Box 5 of the form.  However, if a scholarship is not included on the form, there is a place in TurboTax to include it.  Your student loans are not included on Form 1098-T.

See this TurboTax FAQ below for steps on how to enter your Form 1098-T.  Click "See entire answer" for the full page view.

pwhi10
New Member

On my 1098-T is it just for my student loans or are my grants and tribal included?

I know the Form 1098-T is not supposed to include student loan disbursements, but mine does.  It seemed high, so I asked the college for a list of what made up the amount in box 5.  They gave me a written printout that showed my few scholarships and the last disbursement of my student loan (which was $2,250).  I questioned why that was included - as loans have to be paid back so would not be taxed - and they said I would have to make any adjustments on my tax return.  My question is:  How do I show an adjustment of 2,250 out of income since the Form 1098-T in incorrect?

Hal_Al
Level 15

On my 1098-T is it just for my student loans or are my grants and tribal included?

When you enter the 1098-T in TurboTax just change box to what it should be.  The 1098-T is only an informational document. The numbers on it are not required to be entered onto your tax return, at all, or exactly as printed on the form.

 

Unfortunately, this is a common error, with schools. Good catch!

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