Hi everyone,
I am in a bit of a quarrel with the payment department of my school. They issued me a 1098-T Tax statement which I believe to be incorrect. However, I cannot seem to get them to understand that.
Here is the situation. I started attending University in the fall semester of 2021, paid for that semester in August 2021. I also paid for my spring 2022 semester in November 2021. Both payments were about $5880 each (total $11760).
Now the 1098-T tax statement states only $5880 in box 1. Which, in itself, is not a big deal even though I believe that to be wrong too. If I made the payment in 2021, it should reflect both payments on there, am I right?
What bothers me more though is the fact that they checked box 7 which indicates that "the amount in box 1 includes amounts for an academic period beginning in January-March 2022".
Now please correct me if I am wrong, but that would mean they reported the payment I made for my spring semester (which started this January) in box 1?
Ironically, they explained to me in an email, that they can only report payments made for tuition in 2021, which makes it even more questionable why they checked box 7. So either they forgot about the payment I made in August for the fall semester, or they should not have checked box 7
ALSO: I realize I can still file for the education credit even if the amount on my 1098-T is incorrect...I don't care whether I can a corrected form or not...I just want to understand the problem my school has...
Thanks! I hope someone can help me out here.
