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Deductions & credits
So the recommendation is to reduce the amount on the 2021 1099-Q income side, versus increasing the amount on the 1099-T side.
However, not sure why but the wrinkle is that the 2020 1099-T I received from the same institution did not have box 7 checked and did not include the spring 2021 semester, as the qualified expenses (box 1) and scholarships (box 5) matched exactly to only the fall 2020 semester. In this case, does the same recommendation still apply - reduce the 2021 1099-Q amount?
‎April 16, 2022
9:51 AM