I claim my college aged daughter as a dep. She received a 1098-T. I put info in. Does the amount in box 1 include the $4133 I paid out of pocket?

Forum|Forum|5 years ago
February 12, 2021
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Box 1 shows $14,201.25. Is that saying that's what "I" paid? That is not accurate. I just don't want to file wrong. We qualified for several tax breaks and I'm getting a significant refund back. They also took out alot more taxes this year because of all the overtime I worked. I just want to make sure I did his correct so I dont get audited.

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ReneeM7122

Yes, Box 1 on Form 1098-T includes the $4,133 that you paid out of pocket to the school.

It shows the total payments received by an eligible educational institution in 2020 from any source for qualified tuition and related expenses less any reimbursements or refunds made during 2020 that relate to those payments received during 2020.

See instructions for student on Form 1098-T.