Box 1 of 1098-T only lists the $100 in fees I paid and does not
include any of the scholarship money (tuition remission) that was applied to tuition. Box 5 gives the total of tuition remission ($15k all
applied in 2018) and room and board scholarship monies ($9720 - of this $4100 was applied in calendar
year 2017 not 2018).
Is the information on the 1098-T accurate? Shouldn't Box 1 include scholarship
money used by school toward tuition? Shouldn't Box 5 only have tuition, room and board
scholarship money that was applied in 2018? Do I need to adjust the numbers in Box 1 & 5 of the 1098-T in TurboTax?
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Use the student school account statement and compare it to the 1098-T. Keep a copy of each with your tax file.
Enter the 1098-T and click the "What if this is not what I paid?" link under Box 1 if you need to adjust what the school received in 2018. If the tuition reduction was also reported as a scholarship in box 5, you could add the amount in box 1.
After you enter the 1098-T, continue through the interviews where you will be asked if any of the scholarship was allocated to a different year. Adjust for the 4100 here.
Use the student school account statement and compare it to the 1098-T. Keep a copy of each with your tax file.
Enter the 1098-T and click the "What if this is not what I paid?" link under Box 1 if you need to adjust what the school received in 2018. If the tuition reduction was also reported as a scholarship in box 5, you could add the amount in box 1.
After you enter the 1098-T, continue through the interviews where you will be asked if any of the scholarship was allocated to a different year. Adjust for the 4100 here.
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