topic Turbo Tax in Education

Turbo Tax

fortunemd1 — Tue, 09 Mar 2021 23:46:26 GMT

I put in the exact numbers that were on the 1098-T form but it keep showing that one of the numbers can't be greater than the other one. It has the same amount in both boxes. What do I do?

Re: Turbo Tax

SweetieJean — Wed, 10 Mar 2021 00:39:15 GMT

Which two boxes? Also be sure you didn't type a comma in place of a decimal, or vice-versa.

Re: Turbo Tax

MarilynG1 — Wed, 10 Mar 2021 00:42:01 GMT

If you have a 1098-T with a larger amount in Box 1 (Tuition) than in Box 5 (Scholarships), you may qualify for an Education Credit.

However, if Box 5 (Scholarships) is larger than Box 1 (Tuition), you may have Taxable Scholarship Income.

But if Box 1 and Box 5 are equal amounts, you don't qualify for a credit and don't need to enter your 1098-T in TurboTax. Just keep it for your records.

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