The 1098-T I received for my son's college education lists tuition payments & scholarships on a calendar year basis. However, since I've been paying the spring term tuition prior to December 31st for the whole of his college experience, I have been accounting for Box 1 and Box 5 amounts on a school year basis (Sept through August). Based on a posted response to a prior TurboTax question from someone else, I should enter the Box 1 amount as it is stated on the 1098-T even if that is not what I paid. There is a drop down box associated with Box 1 that then allows me to enter the amount I actually paid in tuition. So far, no problem. However, like the incorrect Box 1 value, the Box 5 value is incorrect. There is no drop down box associated with Box 5 that would allow me to enter the amount of scholarships received on the same Sept - Aug time period as tuition payments. The net effect is that it appears that I received far more scholarship monies than I received. I could compensate for this by entering a Box 5 amount that is different from that on the 1098-T form, an amount that actually corresponds to the scholarships I've received. However, it should be possible to enter the correct amount without doing this. Is there another way?
