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Box 1 and 2 empty on 1098-t
I did post a question like this a few days ago but I worded it incredibly weird so, this is more clear.
Both boxes are empty despite knowing I paid tuition.
Also, if it is right and I am allowed to do so, do I add the $1,634.70 amount in the option below box 1 titled"This is not what 'StudentNamel,' paid to this school?" I plan on contacting financial aid tomorrow
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I'm now on the phone with my school's financial aid. Hopefully, I can get this squared away. Have you contacted your school yet?
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I just got off the phone with them, and they receive their 1098-t from the IRS, so it right is given that my charges hit in 2018, but my pell grant hit in 2019, which is ridiculous because I paid my tuition. So, now I'm waiting to see if I am legally allowed to report that tuition amount under the Student name option under box 1.
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Hey! So apon doing to IRS research, Box 1 is supposed to be the amount that was paid by you or anything else. If it's blank, you should be okay the tuition amount in the "Not what was paid" box. Just be sure to keep your receipt from the school handy.
"IRS description of box 1" - Enter the total amount of payments received for qualified
tuition and related expenses from all sources during the
calendar year
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It also says this
"Include in this boxthe receipt of a payment of past-due qualified tuition orrelated expenses from a previous calendar year, but only if the educational institution previously billed the student for such amount(s)."
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1098-T's are often incorrect. The 1098-T entry section allows you to indicate that the amount in Box 1 on your 1098-T is 'not the amount you paid the school' and to type in the amount you actually paid (or was paid on your behalf).
If a grant or scholarship paid your 2019 tuition in 2018, you might have no amount in Box 1, but you can enter the amount of Tuition in TurboTax that offsets the amount of the Grant/Scholarship reported in Box 5.
Otherwise, entering the 1098-T with no amount in Box 1 (and no amount you have entered yourself) shows that you received a Grant, but paid no Tuition (unless you claimed the Tuition on your 2018 return).
Don't forget to enter any excess tuition, books, fees, etc. that you paid 'out of pocket' (or with loans).
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I didn't see that option, but I went ahead and filed it anyway. Worst that can happen is I don't receive that deduction and have to refile again. But good find! Hopefully everything works out for us!