Thank you very much!
1. Is this correct?
Box 1 is currently 11862 box 5 is 11060
So for the parent, I would put down $4000 in box 1 and $0 in box 5?
For the student, would I put down $0 in box 1 and $3200 in box 5 or would I add $3200 to the dollar amount in box 5 of their 1098-T form that they received from their college (in essence, a lot more than $3200?) or should I put down different amounts for each box?
2. What would I put down on box 1 and box 5 of my tax return and what would I put down for box 1 and box 5 of the tax return for my other child for the 1098-T, if their box 1 was $17348 (I adjusted to the correct amount-incorrect from the college) and their box 5 was $20960
3. This exact situation (indicated in #1 above) applied to two children last year and I just put down exactly what was on their 1098-T form, so I only used $800 for each child for my AOC and did not put the 1098-T on their tax returns, only mine. Should I file amended returns for last year for the 3 of us? Is it worth it? Is it safe to do or would you advise not doing that?
