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1098-T Box 2 Blank
On my husband’s 1098-T, box 1 has the amount he paid for school in 2017 and box 5 has the amount he received in financial aid, but box 2 is completely blank. Do we need to get this corrected before we file our taxes?
No, box 2 is supposed to be blank. In the past, schools were able to report either amounts actually paid or received in box 1 or amounts billed in box 2 (but not in both). Recently, the IRS has issued new guidance that is requiring schools to use box 1 amounts only. Schools are no longer even suppose to use box 2 reporting at all.
