mahkceb88 wrote:If anyone has any advice I'd greatly appreciate it.
Sure, but I have no qualifications or expertise. So take my advice for what it's worth -- not much
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)
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:Can I get an adjusted 1098T to reflect this disparity?
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.
1098Ts that are difficult to reconcile or just flat-out wrong are a very common
occurrence in the forums I've visited and parents I've talked to. I reached the conclusion last year to just report actual invoiced amounts and not worry too much about the 1098s. Plus the mess of various possible education credits and deductions, and the considerable additional complications of 529 plan withdrawals, makes this a "challenging" tax area for most parents. You are not alone.