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1098-T
My son's 1098-T for 2018 states a 1098-T won't be submitted to the IRS because Box 5's value is greater than Box 1's value. The 2019 1098-T states it will be submitted to the IRS. I came upon this change when filling out a FASFA for 2021-22. So, I would think the 1098-T would be submitted with his tax returns. The reason Box 5 is greater than Box 1 is because for 2 school years (2018-19 and 2019-20), he was a RA for on campus housing and his room and board were paid for by the University. So I haven't gone through all of the forms but would the amounts I paid out still have the potential for a tax credit? Also, what changed from 2018 to 2019 as the Box values are about the same? Thanks,
Dan
Topics:
‎February 17, 2021
12:15 PM