Hello, I received my form for 1098-T and I am having following issues:
My 1098-T:
Box #1 (Includes the tuition expenses for Spring 2020/Summer 2020/Fall 2020) - $12,000
Box #5 (Includes grants/federal aid/state aid for Summer/Fall in 2019 and Spring/Summer/Fall in 2020)
- $19,000
*Box #5 should be $13,000 and include only aid received in 2020 only
Because of such a high difference between the aid received and tuition paid, now I have to pay IRS almost $2,000 and I don't have money. This is the first time, I am doing my income tax as well.
The school says it will not correct the form because aid for Summer/Fall from 2019 was received in January 2020 as a result of my late application.
Any thoughts?
