1099t

[SHUBEE89]

clients mother works at university and her kids get free tuition but they have to earn less then 12,000 the son went over the wage limit
and now he has to pay back the 10,000 that was on his original 1098-t as 2020 scholarship money he paid the school back the 10,000 in 2022 that they wanted back will this payment
go on his 2022 tax return as school expenses. and will they send a corrected 1098t for 2020.

[ATSMAN]

The repayment was made in 22 so I doubt the school will issue a new 1099T but if the school will agree to show that the scholarship amount is revoked, you could still use the 1099-T just don't use the scholarship amount and be ready to deal with an IRS notice and have all your backup paperwork to prove that the scholarship was revoked.

[Dude]

Seems like the scholarship morphed into something that resembles a loan. Dont think a corrected 1098 t is needed and highly unlikely to be issued. Do think you should revisit the 2020 return now that the $10k scholarship was changed ot out of pocket. Are education credits now possible? if so amend.

[TaxGuyBill]

Wow, I suspect that Mom is rather mad at the Son for earning too much. :-)

This isn't related to your actual questions, but you may want to suggest to the Mom that she confirm that the disqualifying factor is too much in "wages". In the event the disqualifying factor is too high of "AGI", then son could make a contribution to a Traditional IRA to lower his income, and perhaps they could still qualify for that benefit.