I am a senior citizen who audited a University class. I paid no money. The University waives all fees. HOWEVER, the University issued a 1098-T with an amount in box 1 - payments received AND an larger amount in box 5 Scholarships or grants. If I enter this information the result is a tax liability. The fact is that I did pay tuition or receive any funds.
When I read the IRS instructions for 1098-t , I believe the University should NOT have issued or filed. The instructions read: EXCEPTIONS - you do not have to file the the form or furnish statements for "students whose qualified tuition and related tuition and expenses are entirely waived" I think they did this for their own record keeping.
The question - is my best course of action to simply ignore having received the form and exclude from entering in Turbo tax?
