Hello!
I am a student who has received a full ride, and my college was explicitly clear I would not get a 1098 T form because of this fact. During first year at college, I did not receive the 1098 T form and I have email proof from my school stating that they would not give me one.
This year I did receive a 1098 T form with Box 5 exceeding Box 1, and when I enter the information to TurboTax, it is being treated as if I have 20 grand in taxable income, which is not true since I am very much a low-income student. I have emailed back and forth with my school, and now I have email proof that I was never supposed to receive a 1098 T form because I am on a full ride but that they made a 16 dollar adjustment during the spring of 2020. This adjustment was because every single student got an activities fee refund since we were all sent home for the pandemic. Therefore because of this 16 dollar adjustment, they have given every low-income, full ride student a 1098 T form. They state this is because the 16 dollar credit reduced the amount reported in 2019.
Please let me know what I can do in this situation. I am lost and cannot afford a tax expert.
