I received my 1098-T from my school for 2012. They only list the amount that was billed for the year (2,572), however I have paid more than the amount billed because I paid for Winter Qtr 2011 (2,572) in January of 2012. Where do I enter tuition expenses that I paid out of pocket? There is no "Any addition expenses" box like others have mentioned.
I've got the same problem with adjusting an incorrect 1098-T. Turbo Tax is AWFUL in this area - forcing me to make a workaround to get around their software. First TT problem in 10 years. If I blindly stick to their script it will cost me $3000 in additional taxes. Here's my situation. The school billed for spring '12 in Dec '11, but the tuition was paid, credited etc in Jan '12. IRS Pub 970 states specifically to use the date credited by the school. I see no way in TT to account for this. So If I use the 1098-T submitted by the school it shows $6000 billed for '12, but the amount the school actually received and credited in January '12 was $19,000, not to mention the add'l $6000 later in the year. There is no way to adjust for this in TT short of denying I ever received a 1098 (which for the record I did not). Strange that the school records are so clear on their billing system as to what they received / when - yet the Box 1 Payments Received field is blank on their form…. Doesn't TT have some sort of guarantee about accuracy? Cleary they don;'t live up to it in this area!!!!!!!
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