My son, whom I claim as a dependent, graduated in May 24 but also attended summer school after graduation for prerequisites needed in order to apply for med school. His 1098t box 1 only reflects the cost of summer tuition since Spring 24 was billed in Fall 23. Box 1 is $7600 and box 5 is $34k. After receiving his account print off from the school I see the school credited his account the amount he was to receive in grants and scholarships and then made a manual adjustment of the spring tuition once the grants/scholarships were received in January 24. He was refunded 6k from the school of the difference. Is he required to report the difference of box 1 and 5, almost $26k! , or just the amount of $6k that was refunded as overage to him as taxable income?
