Hal_Al
Level 15

Education

I assume you claimed the maximum $2500 American Opportunity Credit (AOC).  It only takes $4000 of qualified expenses to get the maximum AOC.

 

 $11,255 minus $7,626 = $3629.  You would only need an additional $371 of book & computer costs to not need to amend.

 

Even if you have no other expenses, the difference in your return is only $93 ( $371 x 25% = $93).  You would have to repay that $93.

 

That said, the 1098-T is only an informational document. The numbers on it are not required to be entered onto your tax return*. You claim the tuition credit  based on your own financial records, not the 1098-T.  If you did that the first time, there is no need to amend just because you got a corrected 1098-T.

 

But wait; there's more.  Even if you agree with the corrected  1098-T, you don't have to amend. Instead have your son declare $371 of his scholarship to be taxable income, freeing up that much more tuition for you to use for the AOC.

 

*If you claim the tuition credit, you do need to report that you got one or that you qualify for an exception (the TurboTax interview will handle this)