#1098-t

[turbotax]

Where do I enter tax forms 1098-E, T & C in TurboTax Online? TurboTax Support Video

For help entering your 1098-T, 1098-E, or 1098-C tax forms in TurboTax Online, check out this helpful video guide from TurboTax Support.

For more answers to your questions, visit TurboTax.com/Support!

[turbotax]

IRS form 1098-T reports the amount of qualified education expenses paid by a student during the year. Watch this tax tip video by TurboTax to learn more.

[aim-e-la]

hey, the 1098-t person again, sorry to bother you. I'm asking since my parents already went to do the tax, but i just got an email from school with my 1098-t form (despite telling me i won't get one), and so i'm wondering if my parents, will they be in trouble? do they need to do it all over again? what will happen? thanks! (PS - really annoyed at the aid who picked up the phone and gave me wrong information!)

First off, you’re not bothering me =)

Second, so glad you got the form. Sorry the aid at your school was not very smart.

If your parents are claiming you as a dependent, then they need to amend their return with your 1098-T included. It’s a relatively simple process but instead of e-filing, they would need to mail in the return. When they do, make sure they know to mail the federal return to the IRS and the state return to the state. 

If you’re not a dependent and you have your own return, same process if you’ve done your return. If you haven’t yet, then there’s nothing to worry about.

[aim-e-la]

My fin aid paid for my tuition. I got $100 in refund money every quarter. I took out loans for books and paying for an apartment since I didnt have time to work

So since you don’t get a 1098-T due to aid being more than the tuition, you will need to fill out a Form 8863 (where you enter 1098-t information) and your books and other supplies you would enter on the “total qualified education expenses” line and just make sure that you tick off that you did not receive a 1098-t for 2016. Sadly, the rent for the apartment does not count. 

However, depending on what state you live in, you might be able to get a renters credit on the state return.

[aim-e-la]

I called them to ask since they send us an email to get the form by Jan. 20 at the latest, and when I called they said that since I graduated in June, 2016, they won't be sending me one?? I understand if it's a semester system where charges for the 2nd semester could have been charges in late 2015, But I have a quarter system, so charges and my loans and everything for the spring quarter (which is from April to June) couldn't have already been charge in 2015...I'm really confuse

Yea, that doesn’t make sense. They should be sending/ have to send you one. If they’re really refusing to send you one, I would request that one be made. Tell them you need it whether they think you do or not. As a tuition paying student you should be getting a 1098-T without fail.

[aim-e-la]

Hi, I'm wondering about 1098-T? I graduated in June 2016, and my school is not sending me a 1098-t this year, so how can I do my tax? Don't I need it since i went to school and took out fin aid and loans from Jan - june? Thank you!

You should definitely be getting one. Did you school tell you that they won’t be sending one to you at all? Or that they just won’t be sending you one in the mail? A lot of colleges now simply send you a link via school email where you can download it yourself. I would check with the school (maybe the bursars office) or check whatever the student portal is where you register for classes, check grades, or update your personal information.

[acctservyork]

Reminder for Parents and Students: Check Out College Tax Credits for 2016 and Years Ahead

Reminder for Parents and Students: Check Out College Tax Credits for 2016 and Years Ahead

WASHINGTON ― With another school year now in full swing, the Internal Revenue Service today reminded parents and students that now is a good time to see if they qualify for either of two college tax credits or other education-related tax benefits when they file their 2016 federal income tax returns next year. In general, the American Opportunity Tax Credit or Lifetime Learning Credit is available…

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[acctservyork]

Back-to-School Education Tax Credits

Back-to-School Education Tax Credits

If you, your spouse or a dependent are heading off to college in the fall, some of your costs may save you money at tax time. You may be able to claim a tax credit on your federal tax return. Here are some key IRS tips that you should know about e tax credits:

• American Opportunity Tax Credit.  The AOTCis worth up to $2,500 per year for an eligible student. You may claim this credit only for the…

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