I need some help understanding the calculation of the education expenses in TT.
The cost of the tuition billed by my son's college in 2023 was $67K; plus ~$11K room and board. He received a grant $29K and we paid the rest.
Form 1098-T sent by the college has only $47K in box 1, which appears as this is (tuition + R&B - grant) .
But from what I see in Student Information Worksheet, TT assumes that the amount in box 1 is the cost of tuition, so it deducts the grant from this amount (line 15: tax-free assistance). So it appears as the grant is deducted twice?
According to form's instructions, Box 1 "shows the total payments from any source less reimbursements and refunds" - but not grants. So I wonder if the college is correct by reducing Box 1 by the grant amount.
