Today TaxMama® hears from tbachrodt in the TaxQuips Forum, with this question.  “I recently filed my taxes. I am already receiving the American Opportunity Credit and Lifetime Credit. I just received an additional 1098T in the mail that I forgot was coming. Do I need to file an amended return, even though I am already eligible for the 2 education credits?”

 

Dear TBA,

Did the additional 1098-T show any additional scholarships in excess of your costs?

Have you already used the maximum education credits?

In fact, CAN you use BOTH the American Opportunity Credit and Lifetime Credit?  Ah…you must have more than one person getting educated. I hope? Otherwise, there’s only one credit per person.

No, if there would be no change to your tax return, this is one of those times when you don’t need to do a thing!

And remember, you can find answers to all kinds of questions about amending tax returns and other tax and business issues, free. Where? Where else? At www.TaxMama.com.

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Comments1
  1. pedro torreaMarch 06, 2013   

    Hi, I have a 1098-T with the amount of $9655 on Box 1 can I claim it on the form 8863, and I also recieve a
    1098-E should I Add it to the amount on the 1098-T ?

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