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Get your taxes done using TurboTax
I think you are saying the box 1 amount does not show the actual tuition billed and paid, only what was left after scholarships. Scholarship income used on Qualified Education Expenses - IRS is not taxable to the student. Follow these steps:
Contact the school to see if they will issue a corrected form, if not:
- Select Federal
- Select Deductions & Credits
- Scroll down to Education
- Select the Show more- if necessary
- Select Revisit to the right of Expenses and Scholarships (Form 1098-T)
- On the Your Education Expenses Summary page, select Edit to the right of the appropriate student’s name
- On the Here’s X’s Education Summary page, select Edit to the right of Education Information
- Select Edit on Other Education Expenses
- When it asks for other expenses required to be paid to the school, enter the remaining tuition that scholarships, loans,. you, gifts, etc paid above the box 1 amount.
The 1098-T should have put the full amount in tuition. Since they did not, get copies of the bursar account showing the tuition and scholarships with the real numbers. Make copies of anything you have to back this up - just in case the IRS asks.
If you are claiming your college child as a dependent, this goes on your return. See Whom May I Claim as a Dependent?
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February 13, 2025
1:51 PM