Costly Tax-filing Mistake #2: Failing to use your Form 1098-T

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Information Costly Tax-filing Mistake #2: Failing to use your Form 1098-T

Title	:	Costly Tax-filing Mistake #2: Failing to use your Form 1098-T
Lasting	:	10.27
Date of publication	:
Views	:	10 rb

You may contact me about your specific tax situation at this email:brSteve Hunt CPA at College Tax Refunds combrbrRemove all spaces and replace "at" with @
Comment from : @collegetaxrefunds

i used this form and filed it online and it says I owe money and i dont get that education credit (I worked and mad 10k from my job and have 8k in taxable income after tuition expenses)?? How can this be? I dont qualify for the refundable part of it
Comment from : @JohnDoe-dc1xt

What if the student doesn't work, is not claimed and box 5 exceeds box 1? How would they file?
Comment from : @pb4ugo19

Hello, 1098T Who pays taxes on housing potion reported on the 1098TThe parents pays this tax, for a dependent student? Student got full scholarship She worked, and is doing her qst return with her working
Comment from : @christineliebers2672

what about 529
Comment from : @jamesbuddy3485

Hi, 1098T is applicable on Scaled agile certification, we provide scaled agile training, and we have received a request from the candidate to provide 1098T here is the question brbrCan I get the IRS FORM 1098T, as I did Professional Course from your LLC in 2022?
Comment from : @Naveenreddycr

Great video! brJust a quick question! If you’re a f1 student going through your 2nd year , paying out of pocket , didn’t receive any scholarships or grants should I file for 1098-T
Comment from : @gagnessiryniang2612

Hi my box 5 is higher than box 1 however i have nothing on box 2 i did recieve a refund from fasfa and pell grants should i still file ?? or will i owe?
Comment from : @michelle_l2-i6p

Is a Graduate student that uses loans from financial aid to pay for tuition able to qualify for the AOTC or LLC?
Comment from : @raycrittendenv9730

My college student paid the most of her college tuition and fees from savings We helped with $5,000 for the year She also worked and made $ 2,000 during the summer Should we be claiming this, ok should she?
Comment from : @SFRESCOTT

Hi, I got grants and FAFSA and I have three of the 1098-T (2020,2021,2022) and they all say “Copy B For Student: This is important tax information and is being furnished to the IRS This form must be used to complete Form 8863 to claim education credits Give it to the tax preparer or use it to prepare the tax return” I am a dependent and my family has a tax preparer who does our taxes, but I did not know I was supposed to inform our tax preparer about these; I thought that he would have already received the information through the IRS I will send him the 2022 form when we do our taxes in a few months but what do I do about the 2020 and 2021 forms? My school has sent me online versions of them brbrWill I get in trouble for not have shown those forms in 2020 and 2021? Should I mention to the tax preparer that I didn’t send the 2020 and 2021 forms?
Comment from : @kindree5414

Your website isn't working I can't use the calculator to find out what I missed
Comment from : @chelledampier

Do I have to claim my child as a dependent if I am supporting them or can I remove them so they get the credit We earn too much to get the parent credit
Comment from : @NutmegThumper

When I included my 1098 T it reduced my refund a great deal, by thousands of dollars So I did not include it I receive a lot in grants, is this why? Also, did I make a mistake by choosing to not include my 1098 T?
Comment from : @ernestomejia8837

For the expenses for books and school credits so I put box 1 plus what I bought?
Comment from : @Gospeed777

I got a questions I received two 1098-T forms from two different schools I transferred schools after my sophomore year and didn’t properly withdraw from the school So I got my got both 1098 forms for my current and past school Should I add my past school’s 1098 form even though I haven’t registered for any classes or paid anything?
Comment from : @yeudielflores3010

Is there a way to file a correction to past taxes by yourself without having to pay someone? I don't think I'd get that much back so I'd like to do it myself to save some money
Comment from : @bonitagirlyy

is filing the 1089-T optional since you said many people don’t file?
Comment from : @JAC677b-0

i paid for a semester of college do u i qualify 1098-t
Comment from : @beautyb7866

Box 1 and 2 empty but box 5 8,000? What does this mean?
Comment from : @breeanagonzalez3663

I recommended #kellyytoolzsz on IG ,all thanks to you so honest and faithful man
Comment from : @emmanuelyakubu8602

What if parents earn more than $180,000 per year? Can they still claim this?
Comment from : @dongato90

Hi ! Thank you for this video! My son just started college this year and it is the first time we've received a 1098-t for him We weren't sure what to do with it I thought that because he received the 1098-t that he had to file taxes So we tried to file taxes on TurboTax but at the end we got a message that said he is ineligible to file online He doesn't have a job He is a full time college student so I have claimed him on my taxes as my dependent It shows on his 1098-t that he had received $3,000 in grants more than his tuition so that would be his taxable income Does he need to file taxes still? What do we need to do with the 1098-t? Please help ! Thank you!!!!!
Comment from : @EmilyPyoutubeChannel

Can someone claim this without a job Or someone that has only worked a few days in one year Plus attended college And received the 1098 t form
Comment from : @jessiesanchez7127

Hi, I didn't work in 2018 can I still get college refund
Comment from : @mxbox34

So if someone used this returns back in 2009 -2010 for 2 tax years I still have 2 more tax returns for college NOW 2020
Comment from : @jessiesanchez7127

As an F-1 student, who have been living in US for five years, never worked, never earned money, never had income, never filed tax, which I should have done I think? Such as 1090-T???? What will be my dangers in the future? Am I in trouble?
Comment from : @ezramin7307

What if I am on a community college and don't pay anything? I only get financial aid for supplies basically
Comment from : @SharkA-0

Wow! I honestly didn’t even know that this form existed! So for 3 years I haven’t filed it Dang, I’m freaking out, if I knew I would have filed As soon as I got a job my 2nd year of college I started filing my taxes So for 2018,2019, I didn’t include the 1098t in my filed taxes What’s the next step? I’m independent, br And I have received reimbursements in the past because my scholarship and pell grants helps I kind of didn’t kept track of my spendings, I don’t know I’m trying not to panic Jeez!
Comment from : @godschild298

I am freaking out, Tax Turbo is making me fill out a 8615 form and I don’t understand why
Comment from : @hailie2202

Can I just print the 1098 form? my school didn't send a hard copy but I found the link
Comment from : @areletapia8877

What if I joined a post-graduate program and unfortunately they don’t issue 1098-T? What should I do?
Comment from : @DrMichaelHabib

If someone has income from a job, say $5k & gets scholarships/Grant's for school with a refund say refund of $9k Parents didn't pay for school, person didn't pay for school- all of it was paid by scholarships/grants Would they still qualify for the American Opportunity Tax credit??
Comment from : @mwoods4608

Hi, I have a 1098T form and am filling independently The value in box 5 is greater than in box 1 The difference was used to pay for room and board What do you advise I should do? Thank you
Comment from : @yulianajo1048