- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
After you file
How will it affect our return?
A 1098-T could go either way. It could increase your refund or decrease it or have no effect.
The 1098-T is only any
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 possibly you have taxable scholarship income.
If box 5 is more than box 1 (or box 2) you probably have taxable income. If Box 5 is less than box 1 or 2, you probably are eligible for a tuition credit.
‎June 4, 2019
6:39 PM