Hard to say looking at numbers supplied through an Answer Exchange, but LOOKS LIKE
27,446 and 7,600 were charges
and
26901, 2,000, and 6,092 were scholarships Grants and refunds.
That would result in about 35K for Box 5 and 7,600 for Box 1 if the 27,446 had been reported on the 2023 tax year 1098-T.
You can allocate the 26,901 Grant to tax year 2023.
Use the screen that asks "Did your Aid Include Amounts Not Awarded for 2024 Expenses? "
This will move 26,901 off the 2024 return, but again, in your situation, that means the student would need to claim 26,901 additional income for tax year 2023 since there were not enough expenses in 2023 to offset that extra income.
If that is the case, since the student filed a 2023 tax year return, the student would report the additional income on the 2024 return. (If he hasn't filed, (he might not have needed to) he could file a 2023 tax return and claim the additional scholarship income)
Since the Standard Deduction in 2023 was 13,850 and this year 14,600 you might as well claim it for 2024.
If the 2023 Form 1098-T reported 59,992 in Box 1 and 71669 in Box 5, he had 11,677 scholarship income, adding the 26,901 to tax year 2023 would put him over the standard deduction for 2023 by 24,728. Claiming in 2024 puts him over by 20,393 for 2024.
(11,677 + 26,901 - 13,850 = 24,728)
(26,9901 + 2,000 + 6,092 - 14,600 = 20,939)
See IRS Pub 970 page 15
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