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Cjinzh
Returning Member

1098-t is not available

Hi, I checked my school's website, it says that because my grants exceed my expense, there is no 1098-t available, should I still enter the school's information? if so, I am not sure how much is the expense and grants that i received in 2016. Thank you.
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Accepted Solutions
Patrice
New Member

1098-t is not available

You don't necessarily need a Form 1098-T to claim any of the various federal tax benefits for educational expenses.  

These include:

1) American Opportunity Credit

2) Lifetime Learning Credit

3) Tuition & Fees Deduction

4) Educational expense (deduction) related to your self-employment; or as an educational expense undertaken at the request of your employer for which you did not get reimbursed.

An official 1098-T is not absolutely required in order to claim any of them.  The IRS does not explicitly mandate that you as a taxpayer have a 1098-T.  There are exceptions to the rule.  Proof of your expenses in the form cancelled checks to your school, bank statements, or a statement of student account from your school's registrar office are good enough to satisfy the recordkeeping provisions of the law.

In TurboTax, you'll simply tell the program that "yes" you incurred educational expenses, but that "no" you don't have a 1098-T.  You'll then be presented with the opportunity to input the dollar amounts of your educational expenses.  

You may additionally find the information at the following TurboTax FAQ pages helpful:

https://turbotax.intuit.com/tax-tools/tax-tips/Tax-Deductions-and-Credits/What-are-Education-Tax-Cre...

https://turbotax.intuit.com/tax-tools/tax-tips/College/Video--What-Educational-Expenses-Are-Tax-Dedu... 

View solution in original post

2 Replies
Patrice
New Member

1098-t is not available

You don't necessarily need a Form 1098-T to claim any of the various federal tax benefits for educational expenses.  

These include:

1) American Opportunity Credit

2) Lifetime Learning Credit

3) Tuition & Fees Deduction

4) Educational expense (deduction) related to your self-employment; or as an educational expense undertaken at the request of your employer for which you did not get reimbursed.

An official 1098-T is not absolutely required in order to claim any of them.  The IRS does not explicitly mandate that you as a taxpayer have a 1098-T.  There are exceptions to the rule.  Proof of your expenses in the form cancelled checks to your school, bank statements, or a statement of student account from your school's registrar office are good enough to satisfy the recordkeeping provisions of the law.

In TurboTax, you'll simply tell the program that "yes" you incurred educational expenses, but that "no" you don't have a 1098-T.  You'll then be presented with the opportunity to input the dollar amounts of your educational expenses.  

You may additionally find the information at the following TurboTax FAQ pages helpful:

https://turbotax.intuit.com/tax-tools/tax-tips/Tax-Deductions-and-Credits/What-are-Education-Tax-Cre...

https://turbotax.intuit.com/tax-tools/tax-tips/College/Video--What-Educational-Expenses-Are-Tax-Dedu... 

1098-t is not available

TurboTax still requires filling 1098-T information even if user selects "No, I don't have it" and "Yes, I am eligible for exception" and one must provide EIN for the college otherwise software doesn't allow to proceed with tuition.

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