It depends.
Are you a dependent on someone else's return? If so, then they would enter it on their return to claim an Education Credit. If no one else claims you, then you may be able to claim an education credit using your 1098-T. You can use this IRS tool to see if you are eligible or if your parents (if you are claimed) can claim the credit.
Is box 5 higher than box 1? If so, then yes, you must enter this on your return as the excess amount would be taxable income.
If you (or someone who claims you) do not qualify for the education credit, and box 1 is not less than box 5, you would not need to enter the 1098-T on your return.
If you do want or need to enter it you can do so by selecting the following:
- Federal
- Deductions and Credits
- Show More next to Education
- Start next to Expenses and Scholarships
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