ColeenD3
Expert Alumni

Education

If you have any questions about why there is a scholarship entered on the 1098-T, you will need to contact the issuer. If you paid out of pocket more than is listed on the forms, you can include those amounts.

 

Otherwise, just enter the 1098-T forms exactly as they appear. 

 

The amount of the credit is 20 percent of the first $10,000 of qualified education expenses or a maximum of $2,000 per return. The LLC is not refundable. So, you can use the credit to pay any tax you owe but you won’t receive any of the credit back as a refund.