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1098-T math error in Turbo Tax

Hello,

 

I'm trying to enter my child's information from his 1098T.

 

Box 1 is 26,107.13

Box 2 is 13,060.48

Box 3 is 13,046.65

 

TurboTax is refusing to allow me to enter those numbers, with the error message,

"Your box 1 gross distribution must equal the sum of box 2 earnings plus box 3 basis. Make any necessary corrections here."
 
That is wrong. Those are the correct numbers, and they add fine.
I can change boxes one and two by a penny each, and that will work. I can round them to the nearest dollar, and that will work. But I cannot use the actual amounts from the 1098-T.
 
What's going on here?
What is the best course of action?
 
By default, I'll round each number to the nearest dollar, but I shouldn't have to do that. I do not see a workaround.
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2 Replies
rjs
Level 15
Level 15

1098-T math error in Turbo Tax

The workaround, and the best course of action, is to round to whole dollars. The IRS does not want cents on a tax return. They want all entries rounded to whole dollars. Form 8863 for Education Credits doesn't even have any place to put cents.

 

1098-T math error in Turbo Tax

thank you. that is what I will do.

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