Sure, but I have no qualifications or expertise. So take my advice for what it's worth -- not muchmahkceb88 wrote:If anyone has any advice I'd greatly appreciate it.
Ignore the 1098T and report the actual amounts you were billed and paid in 2011. For a particular semester, you probably paid tuition minus scholarships, but total tuition billed has to be reported separately from scholarships to the IRS. Presumably, you have college invoices that break down how much tuition was billed, and how much scholarship, and how much room&board & fees & etc. Report on the amounts in the invoices that line up with your actual cash payments during the actual calendar year 2011. Just make sure you keep records of the college invoices and your proof of payments. In TurboTax, I reported college amounts on the "Student Information Worksheet" that offers a sort-of spreadsheet that automatically fills in the tuition and scholarship amounts from 1098Ts, but also offers entry fields for amounts "not reported on a 1098T".mahkceb88 wrote:My 2011 1098T has scholarships being reported at a higher level than the amount billed for tuition (because Spring semester is included in 2010 1098T)
Ideally of course, the 1098T is reconcilable with the invoiced amounts, but if not you could write to the college to ask for a corrected amount. Having a copy of the letter would probably help if the IRS questions you, even if the college doesn't offer a correction or explanation.mahkceb88 wrote:Can I get an adjusted 1098T to reflect this disparity?
mahkceb88 wrote:My 2010 1098T included amounts billed for tuition for 2011. ie. box 7 was checked
I swore to never have anything to do with that university again after I graduated (12/2011), but now it looks like I am going to have to! Crap!
I did just notice that in the fees my university listed was "Library Printing Charge". Hopefully this will not be an issue. As a grad student ...Thoughts?
mikemctx wrote:mahkceb88 wrote:
While the focus of the thread seems to be on getting the dollar amounts straight, thought I'd mention that as a grad student you are not eligible for the American Opportunity Credit. You are eligible for the Lifetime Learning Credit, which is a lot less valuable.
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