Hello Experts and Friends,
I have a 1098-T form from my daughter's college. Box1 of the 1098-T shows my "net payment" to her college, which I verified, and box5 shows grants from her college, which is not included in box1. Upon entering the numbers per the form, Turbotax displays a summary of my education expenses, showing "Expenses and Scholarships (1098-T)" with the amount in box1 minus box5. I think this is incorrect. Is my 1098-T form or Turbotax's calculation incorrect? Or both are correct but my understanding is wrong?
Thanks for advice.
Gary
