Submitted tax return for 2020 and just received a 1098-T form

I submitted my tax return for 2020 and it was accepted as of last week and I just received my 1098-T Form. I read online you should report it if Box 5 is more than Box 1or 2. I receive free tuition from my employer and Box 5 is the same amount as Box 1, it is under the taxable amount of $5250, do I have to amend or change anything? 

gloriah5200
Expert Alumni

After you file

Yes, if you had any additional education expenses to include and plan to file for the Education Credit, you will need to file an Amended return using Form 1040X to include it to the rest of the return you already e-filed.

 

IRS may send you a letter of inquiry if you did not include it in your return and should have because they also get a copy of it.

 

Wait until you get the refund for the return that was already accepted to file the Amended return.  You can use TurboTax software to do the amended return. You will just open the return that you already filed and include the 1098-T and additional education expenses and the credit if desired, and do an amended return using Form 1040X. 

After you file

Thanks for your reply! I don’t have any additional expenses for education since I didn’t pay for anything, it was all covered by my employer.  So once I receive my return, I should file an Amended return? 

PattiF
Expert Alumni

After you file

The first paragraph in the attached file, states to file an amended return if there's a change in filing status, income, deductions, credits or tax liability. Since the 1098-T will not change your return, there is no need to file. 

 

Amended Returns

 

 

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