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posted Mar 31, 2018 7:36:44 AM

What about the out-of-pocket cost we paid that was not covered by the scholarship?

Do we get to write any of our costs/payments for college off or just the half tuition scholarship from the 1098T?  Turbo Tax does not ask for the additional tuition we paid to make up the scholarship difference, just for the 1098T information...do we get to add our costs?

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1 Replies
Level 7
Mar 31, 2018 12:02:07 PM

Yes, while normally schools are suppose to report the full amount of tuition paid on the 1098-T in box 1 or the amount billed in box 2, if your school has not, you can add the additional amounts paid.  During the 1098-T entry, you should see a blue link underneath box 2 that details what if this is not the correct amount - click that link and a new box will open for you to input the correct amount of tuition paid.  Also, this is just for tuition and fees - there will be a separate entry screen after the above for books and materials.

 

Note:  You will want to make sure that you have some sort of records or proof that you actually paid these amounts when entering your educational expenses this way - something such as canceled checks, a record of your account with the school showing dates paid, or credit card statements, etc.