Welcome back! Ask questions, get answers, and join our large community of tax professionals.
cancel
Showing results for 
Search instead for 
Did you mean: 

When a 1098-T has a bigger amount on box 5 than on box one, how do I enter it in Proconnect?

ayalastaxes
Level 3
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.
0 Cheers

This discussion has been locked. No new contributions can be made. You may start a new discussion here

5 Comments 5
George4Tacks
Level 15

How about either not entering the 1098-T since the net is negative, or use -1 to be a zero. 

https://proconnect.intuit.com/community/form-1098-t/help/how-do-i-enter-a-1098-t-in-proconnect-tax-o...


Here's wishing you many Happy Returns
ayalastaxes
Level 3

Yes, I will do that. Thanks. For some reason, I thought the excess was taxable.

0 Cheers
George4Tacks
Level 15

It might be

https://proconnect.intuit.com/community/form-1098-t/help/entering-form-1098-t-box-5-scholarships/00/...

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.

 

 


Here's wishing you many Happy Returns
ayalastaxes
Level 3

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.

0 Cheers

The amount is taxable. How do you enter the information so it shows up when they don't get a Q form (graduate student)

 

0 Cheers