Tuition for one semester at my university is $21,000. Adding on related expenses brings the semester total to $21,623.00. I was billed for that amount in December 2020.
My 2021 1098-T Box 1 shows payments received = 107.50. Box 5 shows scholarship/grant total of $21,622.50.
The scholarship/grant portion is is made up of mainly tuition remission, with a small loan, a small scholarship, and a small grant.
When I enter this information into turbo tax, turbo tax is treating the excess (21,623 - 108) has earned income and making it so that I owe a lot of taxes.
A turbo tax expert has stated that Box 1 is incorrect and I need to get in touch with my school. I got in touch with the manager of financial services at my school who walked through all of the boxes on my account with me and triple checked that box 1 is correct. The manager of financial services at my school told me just to not file the 1098-T if it does not work in my favor. What do I do? It seems that box 1 is wrong since the school obviously received more than $108, but the manager of financial services insists that everything is correct and I should just not file if it does not work in my favor. Any help is appreciated!
