topic Re: How to file my 1098t in Education

How to file my 1098t

candikane0789 — Fri, 24 Jan 2020 21:53:34 GMT

Where is the form 1098t located

Re: How to file my 1098t

MarilynG1 — Fri, 24 Jan 2020 22:14:43 GMT

There are two ways to enter the 1098-T you received from your school. When going through the Education topic under Deductions & Credits, you will be asked if you have a 1098-T to enter.

Or, you can just type '1098t' in the Search area and then click on 'Jump to 1098t' to get there.

If Box 1 is larger than Box 5 on your 1098-T, you may be eligible for an Education Credit.

Click this link for more detailed info How to Enter a 1098-T.

Re: How to file my 1098t

dontcare123 — Sat, 25 Jan 2020 20:06:30 GMT

So TurboTax shows $0 for education expenses and won't let me enter the 1098T. How can I enter it? It won't give me the option to go to the screen to enter the 1098T, and it's very frustrating.

Re: How to file my 1098t

edmoran27 — Sat, 25 Jan 2020 21:44:53 GMT

I can't access this form either. Hopefully it will be fixed in a download soon!

Re: How to file my 1098t

AnnetteB6 — Mon, 27 Jan 2020 15:13:56 GMT

To enter your Form 1098-T information (even when TurboTax thinks it has already been entered and is showing $0), go through the entire education expenses section of your return until you reach the screen titled “Your Education Expenses Summary”, then follow these steps:

Click Edit next to the student name.
On the screen titled “Here’s your Education Summary”, click Edit beside Tuition.
Enter the information from your Form 1098-T.

To go directly to the Education section of your return, use these steps:

On the top row of the TurboTax online screen, click on Search (or for CD/downloaded TurboTax locate the search box in the upper right corner)
This opens a box where you can type in “education” (be sure to enter exactly as shown here) and click the magnifying glass (or for CD/downloaded TurboTax, click Find)
The search results will give you an option to “Jump to education”
Click on the blue “Jump to education” link

Re: How to file my 1098t

candikane0789 — Wed, 21 Oct 2020 15:19:34 GMT

Thank you. Very helpful. 👍

Re: How to file my 1098t

travelseattle — Thu, 21 Jan 2021 05:51:16 GMT

I think the Turbotax 2020 has the same issue. I am not asked if I have anything to enter, even when I start at the beginning of education expenses. Also, I am asked if I have 1098Q, I say no, go to next screen , am asked if I want to withdraw what I'd entered previously. I am perplexed.

Re: How to file my 1098t

AmyC — Thu, 21 Jan 2021 19:47:54 GMT

Please see:

Where do I enter Form 1098-T?

Where do I enter Form 1098-T in the TurboTax Mobile App?

Beware: Box 5 larger than box 1 will pull through as taxable income unless you mark more of box 5 taxable in order to take the larger education credit. If you have issues with taxable scholarship income, reply for more help!

Re: How to file my 1098t

travelseattle — Thu, 21 Jan 2021 22:03:14 GMT

Is there an income level above which this option simply doesn't appear? I searched on Education Expenses, following the instructions in the link. I got to a page that has no way to enter tuition. I click on the popup and it says

Tuition and Fee Expenses

This number includes the total amount of tuition and related fee expenses (such as student fees, attendance fees, enrollment fees or assessment fees) that you paid to your school in 2020.

Note: You entered this number in earlier.

So, I think either Turbotax has a bug, or I'm not eligible. I can't find where to enter the tuition amount from the 1098T

Re: How to file my 1098t

AmyC — Thu, 21 Jan 2021 22:58:23 GMT

No education credit is allowed if filing MFS, student is not your dependent or student is non-resident alien. There are income thresholds as well.

American Opportunity The maximum credit is $2,500 per student. Credit is phased out at modified AGI between $80,000 and $90,000 ($160,000 and $180,000 MFJ).
Tuition and Fees Deduction Tax Benefit Taxpayers may deduct qualified education expenses they paid for eligible students up to:
- • $4,000 if modified AGI is $65,000 or less ($130,000 or less MFJ)
- • $2,000 if modified AGI is $80,000 or less ($160,000 or less MFJ)
- • $0 if modified AGI is over $80,000 ($160,000 MFJ)
Lifetime Learning Credit Income limit. Maximum credit of $2,000. Credit is phased out at modified AGI between $59,000 and $69,000 ($118,000 and $138,000 MFJ).

@travelseattle

Re: How to file my 1098t

hollybhome — Sun, 14 Feb 2021 01:33:29 GMT

I do believe there is a bug in the software. I can not access the 1098t either.

The jumpto instructions do not work...there is not link that comes up.

In the step by step, when entering the textbook expenses, it has the tuition as $0 and says it was entered earlier, which I have not done yet.

Who do I contact to get this fixed? First year switching from Tax Act and I am not impressed!

Re: How to file my 1098t

MarilynG1 — Mon, 15 Feb 2021 18:01:06 GMT

@hollybhome Go back to the beginning of the Education Section, and try this advice from @AnetteB6:

"To enter your Form 1098-T information (even when TurboTax thinks it has already been entered and is showing $0), go through the entire education expenses section of your return until you reach the screen titled “Your Education Expenses Summary”, then follow these steps:

Click Edit next to the student name.
On the screen titled “Here’s your Education Summary”, click Edit beside Tuition.
Enter the information from your Form 1098-T.

To go directly to the Education section of your return, use these steps:

On the top row of the TurboTax online screen, click on Search (or for CD/downloaded TurboTax locate the search box in the upper right corner)
This opens a box where you can type in “education” (be sure to enter exactly as shown here) and click the magnifying glass (or for CD/downloaded TurboTax, click Find)
The search results will give you an option to “Jump to education”
Click on the blue “Jump to education” link"

Don't forget to enter the School ID number.

Re: How to file my 1098t

AmadaIRdz — Mon, 01 Mar 2021 03:17:12 GMT

Hello, I have a question, box 5 is larger than box 1 still gave me a credit for education por my dependent is this ok? box 1 have room and board of $8600 and $3858 of non educational expenses, does my dependent needs to file an income tax even if she doesnt work ? Thanks

Re: How to file my 1098t

WendyN2 — Mon, 01 Mar 2021 20:10:23 GMT

No, she does not need to file a tax return for 2020 given that the had no "income". Even if she had a little, she'd only want to file for any withholding to get back in a refund as she'd have to have made more than the standard deduction in 2020, which for her would be $12,400 for 2020 tax year.

As for the 1098-T, you did the entry correctly. You are all set.

Re: How to file my 1098t

AmadaIRdz — Wed, 03 Mar 2021 16:10:24 GMT

Thank you for your response, A message that is displayed in Turbo Tax after I receive the credit for college states that she (my daughter) needs to file for the Room and Board $8600 as income

(Also from the remaining difference of box 5 and box , the total is $6,324 (more scholarship than tuition) $3858 are for non educational expenses and I am thinking if this is also consider "income"?)

If yes, total is $12,458 and standard deduction is $12,400. However I made an account for her to calculate and is totaling $0 for payment. So she does't needs to file an income tax? She didn't work in 2020 and doesnt.

If no, total is just $8600 and is lees that standard deduction, so she doesn't need to file?

Thank you so much for your help

Re: How to file my 1098t

DianeW777 — Wed, 03 Mar 2021 16:52:45 GMT

The information below will help you confirm if the $8,600 must be taxable income to your college student. If so, then adding the excess of scholarships to that would require that a tax return should be filed for the student. Use the information below to help clarify your next step.

You may be able to increase the combined value of an education credit and certain educational assistance if the student includes some or all of the educational assistance in income in the year it is received.

A scholarship or fellowship grant is tax free only to the extent:

• It doesn't exceed your qualified education expenses;
• It isn't designated or earmarked for other purposes (such as room and board), and doesn't require (by its terms) that it can't be used for qualified education expenses; and
• It doesn't represent payment for teaching, research, or other services required as a condition for receiving the scholarship.

If and to the extent your scholarship or fellowship grant doesn't meet the requirements described earlier, it is taxable and must be included in gross income. See IRS Publication 970 for greater detail.

Where do I enter scholarship income?

There is a detailed explanation that will reflect your specific situation at this link from @Carl.