You may report the 1098-T as directed above or
You may simply not report this new 1098-T.
Adjusting in the program (in your case) will zero out the 1098-T.
Worksheets are not transmitted, so it will be the same as if you never enter the 1098-T to begin with.
Keep the student's school account records with your and the student's tax files.
According to the IRS:
"Some tax-free educational assistance received after 2021 may be treated as a refund."
"Refunds received after 2021 but before your income tax return is filed. If anyone receives a refund after 2021 of qualified education expenses paid on behalf of a student in 2021 and the refund is paid before you file an income tax return for 2021, the amount of qualified education expenses for 2021 is reduced by the amount of the refund."
“For 2021, treat an academic period beginning in the first 3 months of 2022 as if it began in 2021 if qualified education expenses for the student were paid in 2021 for that academic period.”
(adjusted for the Tax Year in question)
@J_34
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