A college student who has transferred to a different institution during the year may receive two Forms 1098-T.
The process of entering more than one Form 1098-T begins with the same steps as for entering a single Form 1098-T, then finishing by enter information from the second Form 1098-T.
To enter multiple Forms 1098-T in TaxSlayer Pro, from the Main Menu of the tax return (Form 1040) select:
- Education Credits
- Edit Qualifying Students Information - Click New and select the individual in the return who is the qualifying student.
- Did the student receive a 1098-T for 20xx? - Answer Yes, then enter the institution's EIN, name and address information.
- Evaluate the two check boxes regarding the Form 1098-T. When finished, click Ok.
- Select the credit, whether the American Opportunity Credit or the Lifetime Learning Credit.
- Total qualified education expenses paid in 20xx allocable to 20xx - Enter the student's total qualified education expenses paid during the year related to all institutions.
- In the Qualified Education Expenses Menu, enter any adjustments as needed. Exit the menu when finished.
- In the Education Credit Menu, do two things:
- Verify the information is correct, especially the answers to the four Yes/No questions.
- Select Educational Institutions, click New, and add information about the second institution.