In 2020, I made 3 tuition payments (Spring 2020, Fall 2020 and Spring 2021) and received 2 Scholarship payments (Spring 2020, Fall 2020) for my dependent daughter. We were not eligible for Education Credits in 2020. The 2020 1098T includes an "Ending Carry Forward of Un-Reported Charges Billed" amount.
In 2021, I made 2 tuition payments (Fall 2021, Spring 2022) and received 2 Scholarship payments (Spring 2021, Fall 2021). We are eligible for Education Credits in 2021. The 2021 1098T includes an "Ending Carry Forward of Un-Reported Charges Billed" amount.
In 2022, I will make 1 tuition payment (Fall 2022) and receive 2 Scholarship payments (Spring 2022, Fall 2022).
When entering my 1098T information and Educational Expenses for 2021, how do I account for the offset between tuition payments made vs. scholarships received the following calendar year? (Do I need to lower the expenses in Box 1 or increase the scholarships in Box 5 or neither)
How do I address the "Ending Carry Forward of Un-Reported Charges Billed" amount?
Any advice would be appreciated. Thank you in advance.
