KrisD15
Expert Alumni

Get your taxes done using TurboTax

@cannonwilliams

 

Yes, definitely. 

Your school is wrong. They are mandated to report what was paid, not what was billed. 

 

Box 1 is what was paid in the tax year. If you paid in 2019, but the school did not report that in Box 1 of the 1098-T, you can use the link on the 1098-T screen and entered what was paid. (see screenshot posted above in thread)

Be sure to keep a copy of the statement that shows the payment was posted in 2019. 

Be sure to keep this copy with your tax file. 

 

According to the IRS:

“Box 1. Payments Received for Qualified Tuition and Related Expenses Enter the total amount of payments received for qualified tuition and related expenses from all sources during the calendar year. The amount reported is the total amount of payments received less any reimbursements or refunds made during the calendar year that relate to the payments received for qualified tuition and related expenses during the same calendar year. The amount reported is not reduced by scholarships and grants reported in box 5. Include in this box the receipt of a payment of past-due qualified tuition or related expenses from a previous calendar year, but only if the educational institution previously billed the student for such amount(s).

Box 2. Reserved This box is reserved for future use.”

1098-T instructions

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