FYI, the college's cryptic response was that they report on the 1098T anything from the particular calendar year in question. So for calendar 2020 that would include payments covering Sp20, summer 20 and fall 20. But that has never really aligned with what the 1099Q shows... which goes by what ever was distributed! In a given calendar year I usually, till this year, distribute the fall semester and the $ for the future spring semester since its billed in the prior year.
Apples and Oranges. My thoughts last year was this all somehow washed out in the end. There would never be a time when I distributed more in a given year than I had expense for. My distribution go right to the college. But, by me making the payment late and in the the wrong year, everything is off. It really feels like I am in trouble next year--if not this year too.
Still not sure what to do...debating on opening TT and seeing what happens. Feels like I'll get the credit this year because the the distribution I made (allbeit in Jan 2021) is not reported on this years 1099Q...only one distribution is, for fall whereas the college has 2 semester of payments on their 1098T.
This should not be this complicated!
