01-22-2014 04:02 PM
As my title mentions, I have already completed and e-filed my taxes, however, they have not been accepted yet. I have just received my 1098-T from my university. My question is: How do I go about amending/adding my 1098-T? Do I have to wait until my taxes are accepted to amend? I am new to amending my taxes, I am usually on point! I filed a 1040-EZ too, by the way. Thank you in advance!
01-22-2014 04:48 PM
Filing for educational deductions or adjustments is optional. You don't have to amend your return.
If you choose to do so, where your return is at in the filing process will determine how easy it is to amend the return.
If a return is just on hold and just on a local server, you might be able to make the changes before finally submitting it.
If a return has been submitted, it might be best to way for acceptance and then do an amendment.
Amendments must be done on paper and all changes must be shown, so it's best to make an appointment with a tax professional to amend the return. At my H&R Block offices, when we are helping clients with paper returns we do everything right so that you can be confident that the only thing you have to worry about is getting it to the post office and getting some postage on it.
In the future, if you know you're in college, wait a little for the 1098T form so you don't have to amend or worry about it.
01-22-2014 04:56 PM
Thank you this helps me tons!
I know I should have waited but I am impatient.
So basically, I already hit e-file, my federal is in the 'IRS line', but my state is not submitted at all. I have to wait for my federal to go through first. Is my best option to just wait until I'm 100% accepted?
01-22-2014 05:14 PM
If your state return is awaiting a federal return, it would be worthwhile to review your state's rules on amended federal returns before filing a state return. Most states use the federal tax information to begin your state return, so having accurate federal return information is essential to accurate returns in many states.
So, my suggestion is to speak with a tax professional in your area about the amendment process.
01-22-2014 06:00 PM
Yes, you should wait until your federal return is accepted, amend your federal return as AndrewF outlined, before filing the state if you want to add your 1098-T. Otherwise, you’ll have to amend both your federal and state returns.