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Tax.appeal.168
Tax.appeal.168, Tax Accountant
Category: Tax
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Experience:  3+ decades of varied tax industry exp. Tax Biz owner
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I filed my Federal and State returns already. However, I just

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I filed my Federal and State returns already. However, I just received a form (now, after January 31st) I did not think I was eligible to receive from my school about my student loan tuition (Form 1098-T). What is the best thing for me to do? This will increase my refund by over $1,000. Should I file an amended return now by paper or should I wait until I recieve my refund check and then file for an additional refund using the information from the 1098-T form?

Also, as a New York resident, what do I have to do regarding my NYS return?
Thanks for asking your question! I'm sorry to hear about your tax issue and I'm going to try my best to help you understand or resolve it.

Thank you for your question, and thanks for using Justanswer.com. You would come out best if you waited until you received your refund, and then processed the amended return. The IRS isn't even processing amended returns as of yet.

To amend your state tax return, CLICK HERE for the forms.

Please let me know if you need anything additional. Thanks again for using JustAnswer.com and have a happy, and safe, 2013.

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You should be aware that your question, as with most tax questions, can never really be answered completely...addressing all the permutations; that is because of the many assumptions that have to be made I have done my best to determine what I think you are asking and answering it in the most direct and understandable manner possible. If, however, after reviewing the questions, you have any uncertainties or further questions, please do not hesitate to ask.

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Customer: replied 4 years ago.
Relist: Incomplete answer.
Welcome, THANK YOU for using Just Answer. My goal is to help make your life...a little...LESS taxing.

Different expert here.

Q: Should I file an amended return now by paper or should I wait until I receive my refund check and then file for an additional refund using the information from the 1098-T form?

A: As you recently filed your return, my suggestion would be to wait until your return has been processed before sending in an amended return, which is the Form 1040X. I suggest that you wait because if the IRS has 2 returns for you at the same time, this may confuse things for them, and delay the processing of your initial return.

Link to Form 1040X/instructions:

http://www.irs.gov/pub/irs-pdf/f1040x.pdf
http://www.irs.gov/pub/irs-pdf/i1040x.pdf

Q: Also, as a New York resident, what do I have to do regarding my NYS return?

A: As you are amending your federal return, I suggest amending the state return as well, as there may be an increase in your state refund as well. Again, wait until they have processed your return before sending in an amended return.

Link to New York state amended tax return form/instructions:

http://www.tax.ny.gov/pdf/2012/fillin/inc/it201x_2012_fill_in.pdf
http://www.tax.ny.gov/pdf/2012/inc/it201xi_2012.pdf

Please let me know if I can be of further assistance to you regarding this matter.

Thank you again for using JUST ANSWER.
Tax.appeal.168, Tax Accountant
Category: Tax
Satisfied Customers: 3444
Experience: 3+ decades of varied tax industry exp. Tax Biz owner
Tax.appeal.168 and 2 other Tax Specialists are ready to help you
Customer: replied 4 years ago.


Thank you for the detailed answer, and for your time.