1098t tax question

[kayleacoop]

Yes i done file my taxes and get a return but i for got my 1098t. I dont know if i even neeed to file with it because i only got 985$ in grants and scholarships and also I owe 9,000 for tuition which i havent paid back yet because im still in school is there any reason for me to amend my tax return. I read somewhere you only need to file if your scholarships and grants exceed your tuition amount. 

[ThomasM125]

You don't need to amend the return if you don't want to, however your education expenses may allow for an education credit on your tax return or if you are a dependent of someone else, an education credit on their tax return.

If you are not a dependent on someone else's tax return, you should prepare an amended return when it is available in TurboTax to see if you are due an additional refund. If not, then you don't need to file the amended return. If you are a dependent on someone else's return, you should give them the Form 1098-T so they can include it with their return.

[Hal_Al]

 You say " I owe 9,000 for tuition which I haven't paid back yet". I assume that means that your tuition was paid in 2024 by student  loans.  For the purposes of claiming a tuition credit, that counts as tuition having been paid in 2024.  So, you or, more likely, your parents are eligible (depending on their income) to claim a tuition credit. The credit is worth up to $2500.  They should consider filing an amended return (or if they haven't filed yet, they should enter the 1098-T on their tax return).  Note: there are restrictions on a full time student, under 24, claiming the credit. It is usually best if the parent claims that credit. 

That said, the answer to your original question is: there is no requirement for the 1098-T to be filed.

The 1098-T is only an informational document. The numbers on it are not required to be entered onto your tax return. However receipt of a 1098-T frequently means you (or your parents) are either eligible for a tuition credit or possibly the student has taxable scholarship income. 

If you claim the tuition credit, you do need to report that you got one or that you qualify for an exception (the TurboTax interview will handle this)

You claim the tuition credit, or report scholarship income, based on your own financial records, not the 1098-T. It goes smoother, if you do enter it. 

[kayleacoop]

I figured it out and got it fixedd but I have another question. My federal got accepted but my state still says  pending and its past the daysr for the 24-48 hour window..... does that mean my state is gonna get rejected ...turns out i dont count for 1098t btw i asked about earlier

[kayleacoop]

i have another question if you see below

[Hal_Al]

That's a new topic.  You should post a new question (rather than tagging on to this thread) in order to attract more experts familiar with the topic. Be sure to identify your state.