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For tax year 2016, the IRS required schools to either report Box 1 OR Box 2.
Box 1 reflects what the school received in 2016.
This is what you will enter when you report the 2016 1098-T on your tax return.
Box 3 on the 1098-T means nothing to you as a taxpayer, it is just reporting to the IRS if they changed the way they are reporting the 1098-T.
CLICK HERE for a guide to the 1098-T
For tax year 2016, the IRS required schools to either report Box 1 OR Box 2.
Box 1 reflects what the school received in 2016.
This is what you will enter when you report the 2016 1098-T on your tax return.
Box 3 on the 1098-T means nothing to you as a taxpayer, it is just reporting to the IRS if they changed the way they are reporting the 1098-T.
CLICK HERE for a guide to the 1098-T
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