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OBBBA vs 1098-T

TT does not like me entering a 1098-T about a withdrawal prior to OBBBA. It says updates to TT are pending for 1098-T and OBBBA.

What tax law changes apply to 1098-T for withdrawals *before*  OBBBA was passed?

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1 Reply
LeticiaF1
Employee Tax Expert

OBBBA vs 1098-T

The only changes that OBBBA made to education was that it expanded what you can use education benefits for, allowing benefits to be used for  licenses like cosmetology, barbering, esthetics, and nail technology.  These schools are required to send a Form 1098-T, and you can also use 529-plan funds to pay for them.  There should not be any other updates that affect your entries.  

 

FAQ: New Federal Law Expands Use of 529 Plans to Include Qualified Expenses on Credentialing Program...

 

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