Maybe depending on education credit and circumstances. The 1098-T tuition is informational and can be changed to match your records. However, do you want to or need to is another consideration. The school should have listed all tuition paid for the year in that box. You may have made an additional payment for the next year's semester.
The first question is do you qualify for an education credit?
- If not, then it doesn't matter what the form says and you don't need to enter it.
- If you do, only $4,000 is needed to qualify for the full AOTC credit. You may want to make some scholarship taxable to the student or you may want to add the additional tuition paid. For variations and references, please look at another of my answers for help.
The credit and income limits:
- For the full credit, your MAGI (modified adjusted gross income) is less than $80,000 ($160,000 if you're filing jointly)
- For a reduced credit, your MAGI is between $80,000 and $90,000 ($160,000 and $180,000 if you're filing jointly)
- There is no credit given if your MAGI is above $90,000 ($180,000 if you’re filing jointly)
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