348099
Form 1098-T from my son's university shows over $10,000 payment to them in box 1, when the federal loan is not in repayment yet and won't be until 2020. The only payments made by me yearly have been the $250 housing deposit fees. I need to enter the form data in my tax return, but I'm afraid I will have to fix that later on. Is that an error by the university?
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No, this is not an error. The payment is made to the university from the loan proceeds. Just because the loan is deferred while your son is in school, does not mean the payment has not been made. You should enter the Box 1 amount and take any educational credits available to you.
No, this is not an error. The payment is made to the university from the loan proceeds. Just because the loan is deferred while your son is in school, does not mean the payment has not been made. You should enter the Box 1 amount and take any educational credits available to you.
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