jam6
Returning Member

1098-T

if box 1(payments received) on form 1098-T is greater than box 5(scholarships and grants)how can it be determined that we don't qualify for an education credit or deduction?  It says scholarships(box 5)were more than tuition(not so). We paid 4k out of pocket. 

ColeenD3
Expert Alumni

Education

You can add the amount you paid out of pocket.

  • Enter your Form 1098-T exactly as you see it, even if you think it's wrong. Here are some important tips:
  • If any boxes on your 1098-T are blank, leave them blank. Don't enter 0 (this may cause errors later).
  • If boxes 1 or 2 on your 1098-T form are wrong, enter those amounts anyway. Then click What if this is not what I paid? right below box 2 and enter the correct amount of tuition paid.

Education

What if the 1098-T Box 5 for scholarships is wrong (inflated)? NY state Excelsior scholarships came in a year late but since they were on the invoices, I included them in last year's TT, on the "Other scholarships" line. I was told that I could enter a adjusted amount for Box 5 for this year (2019).

KrisD15
Expert Alumni

Education

When you enter the 1098-T and continue through the interview screens, there should be a screen that asks if any of the scholarships were for a different year (a year other than 2019) you need to answer "Yes" and the amount of the adjustment. 

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