Question about 1098t Form

Forum|Forum|6 years ago
January 31, 2020
1 reply
28 views

I just accessed my 1098t form and boxes 1 and 2 are empty, but box 5 shows my scholarship/grants received.

I graduated this May but I was enrolled in university for at least 5 months this year as a full time student. I was not billed for that semester (Spring 2019) last year as box 7 is not checked on last year’s 1098t. I’m not sure how to file this. My tuition for the semester actually cost $4,500.
A breakdown on my school account clearly states the “details of payments received” and lists my tuition expenses for the semester, so I’m not sure why the form is blank.

JulieS

Level 15

This happens sometimes. If your tuition for the spring term was billed and/ or paid at the end of 2018, the amount was on your 2018 1098-T form.

Scholarships and grants come through later in the term, typically in January or February. It isn't noticeable while you are still going to school, but in that last term, you can have scholarships with no offsetting tuition.

If you have expenses for books and supplies that will reduce the amount of taxable scholarship. I think you should do a little research just to verify that this form is accurate before you file it.

As far as entering the information in Turbo Tax, you do it the same as always, work through the education section in Turbo Tax. Enter your 1098-T form as it is. It will increase your taxable income, if you don't have enough education expense to offset it.

Search for "1098-T" using the search box located in the upper right corner .
Click on Go to 1098-T.
Answer Yes to the next two questions.
The next page will provide instructions for uploading your 1098-T form.

Be sure to answer all of the follow up questions in this section to reduce your tax as much as possible.

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Goldenhoney Author

Level 2

So I pulled my 2018 1098 t information and I was billed for the Spring 2019 semester that year(2018), but no payments were made until this year(2019). My scholarships (state funded) and pell grant went to my tuition and I received a little refund. I’m just confused because I’ve never been in a situation where I’d have to pay taxes on my grants? So basically I will not be able to receive the education credit this year?