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What should I do if I didn't use my daughter's 1098-t form? It shows payments of $15,293 for which we took loans, but did I miss out here?

I took standard deductions and credits for student loan interest (other loans) .

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MinhT
Expert Alumni

What should I do if I didn't use my daughter's 1098-t form? It shows payments of $15,293 for which we took loans, but did I miss out here?

If you claim your daughter as a dependent, you are entitled to claim her education credits.

Tuition and fees paid out from loans are considered as out-of-pocket tuition, and are qualified education expenses which allow you to claim education credits.

If you have already filed your return, you'll need to wait for your tax return to either be rejected or accepted, if it is rejected you can add the form 1098-T, correct any other errors on the return and resubmit it.

If it is accepted, you will need to amend your return to include the Form 1098-T. 

Please be aware that Form 1040X will not be available in TurboTax until mid-February, but once it is available, you will be able to prepare and print your amended return so that you can mail it to the IRS. You cannot e-file an amended return as this cannot be filed electronically.  The form is only filed on paper, so it will need to be printed and filed by mail. 

Please see the following TurboTax FAQ for instructions on how to amend your tax return in TurboTax.

https://ttlc.intuit.com/replies/3288565


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**Mark the post that answers your question by clicking on "Mark as Best Answer"

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1 Reply
MinhT
Expert Alumni

What should I do if I didn't use my daughter's 1098-t form? It shows payments of $15,293 for which we took loans, but did I miss out here?

If you claim your daughter as a dependent, you are entitled to claim her education credits.

Tuition and fees paid out from loans are considered as out-of-pocket tuition, and are qualified education expenses which allow you to claim education credits.

If you have already filed your return, you'll need to wait for your tax return to either be rejected or accepted, if it is rejected you can add the form 1098-T, correct any other errors on the return and resubmit it.

If it is accepted, you will need to amend your return to include the Form 1098-T. 

Please be aware that Form 1040X will not be available in TurboTax until mid-February, but once it is available, you will be able to prepare and print your amended return so that you can mail it to the IRS. You cannot e-file an amended return as this cannot be filed electronically.  The form is only filed on paper, so it will need to be printed and filed by mail. 

Please see the following TurboTax FAQ for instructions on how to amend your tax return in TurboTax.

https://ttlc.intuit.com/replies/3288565


**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
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