topic 1098-t in Education

1098-t

NDavis1 — Sun, 31 Jan 2021 03:54:59 GMT

So if I already filed my taxes with my 1098-t and owe money to the irs for it, would it look bad if I amended my return to not include my 1098-t?

Re: 1098-t

KrisD15 — Sun, 31 Jan 2021 04:51:56 GMT

No, you can't amend your return and make it disregard the 1098-T.

If you already filed your return, and it included the 1098-T, you have the option to file an amended return to report errors or additional income, but that would not allow you to file a new return as if the 1098-T never happened.

The IRS gets a copy of 1098-T forms and if it looks like you received more scholarship that what was paid in tuition, you'll need to claim that income.

Re: 1098-t

Hal_Al — Sun, 31 Jan 2021 12:42:19 GMT

Tell us more about your situation. How old are you,, what is your other income, are you a dependent, did you or your parents claim the tuition credit

"owe money to the irs for my 1098-T" is rare. It usually occurs when box 5 exceeds box 1. But most students, who are their parents dependent, must have more than $12,400 of income for any of their excess scholarship to be taxable.