ayalastaxes
Level 3
03-20-2021
07:35 PM
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My client has over $12,000 and around $6,000 on box 1. When I enter a negative amount, the software gives me a critical diagnostic.
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George4Tacks
Level 15
03-21-2021
03:12 PM
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How about either not entering the 1098-T since the net is negative, or use -1 to be a zero.
Answers are easy. Questions are hard!
ayalastaxes
Level 3
03-22-2021
05:07 PM
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Yes, I will do that. Thanks. For some reason, I thought the excess was taxable.
George4Tacks
Level 15
03-22-2021
05:14 PM
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It might be
Sorry - the link is for Lacerte. Same basic premise, but you need to find the appropriate input, as I can't find the PCT article.
Answers are easy. Questions are hard!
ayalastaxes
Level 3
03-22-2021
05:18 PM
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I understand that an undergraduate can use the excess to pay for living expenses like room ad board. so in that case I think I can reduce to zero. Other than that, I am not sure.
how to report 1098-t box 5 more
Level 1
01-16-2023
09:27 AM
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The amount is taxable. How do you enter the information so it shows up when they don't get a Q form (graduate student)
