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Form 1098-T reports tuition you paid to a qualified educational institution and the scholarships you received during 2020. You have to enter it on your tax return in order to claim education credits such as the American Opportunity tax credit or the Lifetime Learning credit.
To enter your form 1098-T in TurboTax, follow these steps:
The 1098-T is only an informational document. The numbers on it are not required to be entered onto your tax return. However receipt of a 1098-T frequently means you are either eligible for a tuition credit or deduction or possibly your student has taxable scholarship income.
You claim the tuition credit, or report scholarship income, based on your own financial records, not the 1098-T.
If you claim the tuition credit, you do need to report that you got one or that you qualify for an exception (the TurboTax interview will handle this). So, it should be entered in TT, if you are claiming something
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