My dependent son received a substitute 1098-T form from his college. This is all scholarships or grant money. How do I or where do I put this in my tax return? There is no Box 1. Also the amount in box 2 is different than box 5, do I subtract them to get the amount that is for room and board? May 31, 2019 4:46 PM

Is the 1098-T always in the student’s name?

The 1098-T will *always* be in the student’s name. If that student is your qualified dependent, then it’s not an issue. May 31, 2019 4:47 PM My son recieved a 1098 T form, do I use it for my tax return? But on the federal taxes, (I can’t speak for state), here’s how things are applied.

Do you have to enter Box 5 on a 1098t?

It’s usually very simple: if box 5, of a 1098-T, is more than box 1, the difference between the two is all taxable income to you. The only adjustment would be for books and other required course materials, not included in box 1. There is a place, after entering the 1098-T to enter those expenses.

Do you have to file a 1098 tax form?

To claim, you would have to file your Form 1098-T from school and one of the tax forms, Form 8869 or Form 8917. However, if you did not pay anything out of pocket, you do not have to file any tax forms.

What do I need to report on a 1098-T?

A: Form 1098-T reports your qualified tuition and related expenses on an “amounts billed” basis. When you are determining your eligibility for education related tax credits and deductions, you will need to report amounts paid (not billed) for qualified education and related expenses.

Where is my Fellowship reported on my 1098-T?

Q: I am a graduate student and I received fellowship payments. Where is my fellowship reported on my Form 1098-T? A: For Form 1098-T purposes, fellowships are considered financial aid and will be reported in Box 5 as a (scholarships, grants, fellowships). Form 1098-T reports activity occurring in the calendar year.