Schools can report a student's qualified expenses one of two ways: based on how much the student actually paid during the year, or based on how much the school billed the student during the year. If the school reports the amount paid, it puts that figure in Box 1 of the form. If it reports the amount billed, it does so in Box 2.
The amount you actually
paid counts towards any one of the Education tax credits,
not billed. Furthermore, I would suggest confirming the amount against your receipts,
cancelled checks or other documents that show payment detail, to ensure
that your school did not miss anything. Also, by gathering these
documents, they are your proof and evidence.
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