I received a Form 1098-T after I filed my return. Do I need to amend my return?
Maybe. A 1098-T isn’t necessary to claim the education credits, so you might have already claimed one. If you haven't, you might need to amend your return.
Here are some common scenarios to help you figure out if you need to amend your return:
- You already claimed an education credit and your 1098-T doesn’t change anything you entered. In this case:
- You were already eligible for and claimed an education credit.
- You don’t need to file an amended return.
- You had scholarship / grant money more than your qualified education expenses. In this case:
- You won’t be eligible for a credit.
- You'll probably need to file an amended return so you can claim the amount of the scholarship that’s more than the expenses as taxable income.
- Your new 1098-T has expenses you haven’t reported yet or there’s no taxable income. In this case:
- You’re eligible to claim the expenses.
- You should amend your return.
To amend your return:
- Use Form 1040X. You can use the H&B Block online or software program to complete it or get it at www.irs.gov.
- You’ll need both:
- Your original Form 1040
- A new 1040 with the corrections
- Fill in the 1040X with your the old and new calculations, as well as the difference between the two.
- Print and mail your 1040X and mail it to the IRS. You can’t e-file 1040X.
It'll probably take the IRS 8-12 weeks to process your amended return. Keep in mind that if you amend your federal return, you might also need to amend your state return.