Form 1098-T: What do I do with this?
The information reported on Form 1098-T can be used in one of two ways: as a Tuition and Fees Deduction OR as an Education Credit. You cannot report the same expenses as both a credit and a deduction.
Q. Should I use the amount as a Tuition and Fees Deduction or as an Education Credit?
A. Because every return is different, there is no selection that is always "better". You would have to enter your qualifying expenses in one area and view the return results. Then remove the expenses and enter them in the other area and view the results to determine which provides the best benefit on your particular return.
To enter the information into the TaxSlayer program, you will go to Federal Section > Deductions > Enter Myself > Credits > Education Credits (1098-T).