When filing taxes with a 1098-T form from previous year, do I include it with current year return?

The 1098-T is tied to the tax year it was issued for. If you have a 2022 1098-T, that would have been relevant for your 2022 tax return, not your 2023 return that you're working on now. If you already filed your 2022 taxes without claiming the education benefits from that 2022 1098-T, you would need to file an amended return (Form 1040-X) for 2022 to claim those education credits or deductions. This is separate from your 2023 tax filing. When you get your 2023 1098-T, you'll use that one for your current 2023 tax return along with your W-2. Each tax year stands alone, so documents need to be applied to their corresponding tax year.

Hey there, I went through something similar last year and wanted to share my experience. After struggling with confusing tax forms and missing out on education credits, I found this awesome tool called taxr.ai (https://taxr.ai) that analyzed my tax documents and showed me exactly what I was missing. When I uploaded my old 1098-T forms, it immediately identified that I needed to file an amended return and walked me through the process. It saved me over $1,700 in education credits I would have completely missed! The system explained everything in plain English instead of tax jargon. If you're confused about handling multiple years of education forms like I was, this might help clear things up. It also verifies that you're claiming the right education credit based on your specific situation.

Just wanted to update everyone - I tried taxr.ai after seeing it mentioned here, and it was super helpful with my education credit situation! I discovered I'd missed claiming over $2,000 in education credits from my 2022 1098-T. The report it generated was really clear about which form I needed to file (1040-X) and exactly what numbers needed to go where. I was able to submit my amendment and the IRS has already processed it - refund should be arriving next week! It also helped me understand the difference between the American Opportunity Credit and Lifetime Learning Credit, which I was totally confused about before. Definitely worth checking out if you're dealing with education tax forms from multiple years.

If you're having trouble getting answers about your education credits and forms, I'd recommend trying to call the IRS directly - except good luck actually reaching someone! After trying for DAYS to get through about my own 1098-T issues, I finally tried Claimyr (https://claimyr.com) which got me connected to an actual IRS agent in about 15 minutes. You can see how it works in this video: https://youtu.be/_kiP6q8DX5c I was honestly shocked it worked because I spent hours listening to "all representatives are busy" messages before. The IRS agent I spoke with explained exactly how to handle my old 1098-T forms and what specific education credits I qualified for based on my situation. Apparently there are some nuances with education credits that aren't obvious from just reading the forms.

I need to eat my words from my previous comment. After struggling for another two days trying to reach the IRS about my education credits, I broke down and tried Claimyr. I got connected to an IRS agent in about 20 minutes. The agent explained that for my situation (very similar to the original poster's), I needed to file a 1040-X for the year of the old 1098-T and provided step-by-step guidance. She also pointed out that I qualified for the American Opportunity Credit instead of the Lifetime Learning Credit, which meant an additional $700 in my pocket. I'm still shocked this service actually worked - saved me hours of frustration and potentially missing out on a significant refund. Just wanted to update since I was so skeptical before.

Just a tip from someone who works at a university financial aid office - make sure your 1098-T forms accurately reflect what you actually paid. Sometimes there's a disconnect between when the school posts charges and when payments are made, which can cause confusion. For example, if you paid spring 2022 tuition in December 2021, that payment might not show up on your 2022 1098-T. This is especially important when filing an amended return since you'll need to prove your qualified education expenses. Also, keep in mind that scholarships and grants reported in Box 5 reduce your qualified expenses for tax credit purposes. This trips up a lot of students.

One thing nobody's mentioned yet - depending on your income level and other factors, you might benefit more from taking the tuition and fees deduction instead of an education credit on your amended return. Education credits are generally better for most people, but not always! Each situation is different.

Just wanted to add some practical advice from someone who went through this exact situation! When you file your 1040-X for the 2022 tax year, make sure you have your original 2022 tax return handy because you'll need to reference the original amounts you reported. The amended return process can take 12-16 weeks to process (sometimes longer during busy periods), so don't expect a quick turnaround like with regular returns. But it's definitely worth it if you missed education credits - I recovered almost $2,000 when I amended for a missed 1098-T! Also, when you do get your 2023 1098-T and file your current year return, double-check that you're eligible for the American Opportunity Credit if you haven't used all four years yet. It's more valuable than the Lifetime Learning Credit in most cases. Good luck with both returns!