Hello I have a question regarding 1098-T form

[Junmare]

My 1098-T form came back and box 1 only says $3872.00. But I have the receipt when I paid out of pocket for the fall semester of 2022 which being $4,419.00. Would I type that in instead? 

I also have another question, would 1098-T form also include what I paid for spring semester as well?

As I recall, I paid out of pocket for spring semester being around $4,300. So would my overall tuition expense be around $8,800?

[Hal_Al]

Q.  But I have the receipt when I paid out of pocket for the fall semester of 2022 which being $4,419.00.

Would I type that in instead? 

A. Yes

Q. Would 1098-T form also include what I paid for spring semester as well?

A. Yes, if you actually paid it in 2022. But, it's not unusual for the school to make a mistake, and not include it.

Q.  So would my overall tuition expense be around $8,800?

A. Yes

The 1098-T is only an informational document. The numbers on it are not required to be entered onto your tax return. You claim the tuition credit, or report scholarship income, based on your own financial records, not the 1098-T. In the 1098-T screen, click on the link "What if this is not what I paid the school" underneath box 1. You will then be able to enter the actual amounts paid. 

Or if you find it easier, just change the numbers in boxes 1& 5 to what your records show. The 1098-T that you enter in TT is not sent to the IRS.

[Junmare]

Also I have the receipt for $4,419 being taken from my card to pay for the tuition of fall 2022 semester. If I can find the receipt pay for 2022 spring semester but what If I paid for that in 2021, then would that not count? 

Other scenario would be:
If I paid for spring 2022 semester, and I paid it in January then that would count?

-- Also does this automatically gives me the American Opportunity Credit, which I am afraid of claiming. Does Turbotax automatically file it for you based on your 1098-T or you have to manually find the form and self file it? 

[Hal_Al]

Q. If I can find the receipt pay for 2022 spring semester but what If I paid for that in 2021, then would that not count? 

A. Correct, that would not count for 2022. You should have claimed it on your 2021 return. 

Q. If I paid for spring 2022 semester, and I paid it in January then that would count?

A. Correct.

Q. Does this automatically gives me the American Opportunity Credit?  Does TurboTax automatically file it for you based on your 1098-T?

A. Yes.  Or more accurately, it automatically calculates the credit based on your input. Then it tells you it will be claiming it. You can chose to delete before actually filing. 

You say "which I am afraid of claiming".  Why? Weak records?  You can use your own records, just don't duplicate. For example don't claim spring 2022 tuition on both your 2021 and 2022 returns. 

[Junmare]

I have heard for the American Opportunity act, you have to file Form-8863 in order to claim it. Is this true? if so, I would have to manually search up for this form and fill it out? Afterwards would I then attach this income tax?
Or

When TurboTax automatically applies the AOTC after my 1098-T submission, they have already filled out the form for me just there?

[Hal_Al]

Q. I have heard for the American Opportunity act, you have to file Form-8863 in order to claim it. Is this true?

A. Yes

Q. if so, I would have to manually search up for this form and fill it out? Afterwards would I then attach this income tax?

A. No

Q. When TurboTax (TT) automatically applies the AOTC after entering my 1098-T information, they have already filled out the form for me?

A. Yes. When you e-file, form 8863 and all other forms are included in the transmission. That's what you're paying TT to do. 

We haven't talked about your age and dependent status, if any.  

A full time, unmarried student, under age 24, even if you don't qualify as a dependent, is only eligible for the refundable portion of the American Opportunity Credit if he supports himself by working. You cannot be supporting yourself on parental support, 529 plans or student loans & grants. You usually must have actually paid tuition, not had it paid by scholarships & grants.  It is usually best if the parent claims that credit. 

You cannot claim a credit if you are, or can be, claimed as a dependent by someone else.

Reference: Line 7 instructions for form 8863. https://www.irs.gov/instructions/i8863