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Education
It is his second year in college. I went back and looked at 1098-T from tax year 2022 and Winter 2023 was billed nov 2022 and the only amount that was paid in 2022 was an out of pocket amount of 4920. Box 1 is the total amount paid in 2022. This year 2023 the amount in box 1 is labeled Cap Limit Charges Billed but the actual amount for Current payments received is 77, 034.52. So can I adjust this amount in box 1 when entering numbers on 1098-T form? Box 1 is labeled "Payments received for qualified tuition and related expenses". Thank you for any advice with this issue.
March 1, 2024
11:07 AM