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I received my daughters 1098-T for 2020 and box 7 was checked for the first time. This was very confusing to me. I called the school and they said she was billed for Spring 2021 in 2020 that's why it's checked. She will be graduating this May 2021. They have never checked box 7 before. Box 1 has $42,577 and box 5 has $ $33,114 which really makes no sense to me. She did have summer classes in 2020 $5017 included in box 1.
This will create a 2021 1098-T box 1 $0 box 5 $15,500.
Is there anything I can do to remedy this situation? Why and how is this even allowed to happen?
Thank you
March 10, 2021
10:53 AM