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March 7, 2021
Question

How do i determine the full amount of tuition paid to the school? Box 1 is $3772 and box 5 is $8005

  • March 7, 2021
  • 1 reply
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the $3772 is just the tuition for fall 2020.

1 reply

Hal_Al
Employee
March 7, 2021

Q. How do i determine the full amount of tuition paid to the school? 

A. From your own records, usually the billing statements from the school. 

 

Chances are the spring term tuition was shown in box 1 of the 2019 1098-T.  But, if it was actually paid in 2020, you may claim it in 2020.

 

More likely, the amount in box 5 includes some of the scholarship for spring 2020 tuition, even though the matching tuition amount was shown on the 2019 1098-T.

 

The 1098-T is only an informational document. The numbers on it are not required to be entered onto your tax return. However receipt of a 1098-T frequently means you are either eligible for a tuition credit or deduction or possibly your student has taxable scholarship income. 

 

You claim the tuition credit, or report scholarship income, based on your own financial records, not the 1098-T. In the 1098-T screen, click on the link "What if this is not what I paid the school" underneath box 1. You will then be able to enter the actual amounts paid. You will also reach a screen that allows you to adjust the scholarship amount for "amounts not awarded for 2020 expenses".