1098-T billed versus paid

[sup3rman131]

For 2016 I received a 1098-T for graduate courses. The 1098-T has information in boxes (2, 8, 9). The amount billed is $5900. The amount I paid during 2016 was $7800 because I paid Spring 2016 classes in January but they were billed in 2015. My 2015 1098-T had information in boxes (2, 5, 7, 9).

I've placed the information in box 2 into TurboTax. I then clicked the 'paid different amount' link and entered the $7800 into this area. When all said in done it is now showing my lifetime learning credit to be $2000 opposed to what it should be ($1560).

The "Here's your education summary" page is showing the correct $7800 but the "Summary of Your Education Deductions & Credits" shows $2000 as if its adding up the $5900 and $7800.

Why is this happening?

[IsabellaG · Accepted solution]

I have attempted to recreate your situation, but when I enter $5900 for Box 2 of 1098-T, and that I am a graduate student who was at least a half-time student, I get a Lifetime Learning credit of $1560 no matter which version of TurboTax I use.There is no combination of those numbers that generates a Lifetime Learning Credit of  $2000.

I suggest that you delete this information and re-enter it by deleting your name as a student in the screen Your Education Expenses Summary. See the screenshot below. Hopefully by entering this information fresh, you will get the correct result.