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1098-T Tax Form?

Is it too late to file a 1098-T tax form from 2019 for the lifetime learning tax credit?

6 Answers

  • 2 months ago

    You would have to file an amended return for 2019.

  • 2 months ago

    No.  Tax forms can be filed up to 3 years late and still get you the same amount of money as if they were filled on time.  (After 3 years, they can still be filed, but you can't get any money.  The real importance of being on time is that if you owe them money and file late, then there is a penalty.)

  • Judy
    Lv 7
    2 months ago

    No, not too late.  You'd have to amend your 2019 return though, not just file it with this year.

  • 2 months ago

    You don't file a 1098-T, its a form that is given to you.

    You file a tax return which reports all of your relevant financial information for that year to the IRS. The information on your 1098-T is just one small piece of that info.

    If you already filed a 2019 tax return but forgot to claim an education credit then you can file an amendment using form 1040-X. Refunds from amended returns can take up to 16 weeks during busy times so be patient.

    If you never filed a 2019 tax return then you can file one now. You are late but there is no penalty for filing late if you do not owe taxes.

    The lifetime learning credit will only result in a refund if you had income and owed tax that year (meaning you did not get all of your withholding refunded to you). The LLC can reduce your tax liability meaning a greater portion of your tax payments are refunded. If your tax liability is already $0 because you had no income or because you had enough other deductions and credits, then the LLC cannot provide any additional benefit.

  • 2 months ago

    You can still file.

  • Anonymous
    2 months ago

    You don't file a 1098-T.  You receive one.

    If you failed to take a tax credit that you were eligible for in 2019, you can still file an amended tax return (1040X) and receive refund of any tax over-payment.

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