I graduated from college last December. My 2016 1098-T form shows amounts billed in box 2 only for Fall 2016 semester (box 1 is empty), but scholarships and grants (box 5) are shown for both Spring 2016 and Fall 2016 semesters and therefore they exceed amount in box 2. I paid my college expenses for both semesters in 2016, but according to my 1098-T it looks like instead of getting educational credit I will need to pay extra tax for the difference. Please clarify this situation.
