1098-T and student loans

[cglaittli]

When adding a number to Box 1 of the 1098-T, it has a drop down that you can either check a box saying "this is not what I paid to this school". If I check the box the next line says: "enter the full amount of tuition paid to . Include all amounts paid by you, someone else, scholarships, fellowships, and student loans". I used to student loans to pay for college and am just not sure if I should check the box and add the amount of money for student loans or not. 

[MarilynG]

Is the amount in Box 1 on your 1098-T incorrect?  You don't need to check that box unless it's not correct. 

 The amount of Tuition Paid in Box 1 should reflect total Tuition paid, whether with student loans, cash, etc. so if you paid part of your tuition with student loans, it should be included in that amount.

If the amount of Tuition Paid in Box 1 is NOT correct, that's when you would need to check the box and enter the correct amount that was paid to the school. 

Remember the 'Tuition Paid' does not include Books or Other Fees you were required to pay.  You can add those in the 'Other Education Expenses' area. 

Here's info on Qualified Education Expenses and details on How to Enter a 1098-T. 

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