question on 1098 T

[GreatDane]

box 1 has 5084.35
box 4 has 3183.14

do I subtract out box 4 from box 1

[Gretel]

Form 1098-T is not a valid tax documents as far as amounts are concerned. It only tells you if it is at least a half time student and if it is a graduate student.

To accurately determine amounts you need to get some more detailed documents from taxpayer.

[S T]

form 1098T

Yes in theory you would subtract and net the two boxes 1 & 4,

however, Gabriele, provided some good advice. Have the T/P furnish you with all of the tuition statements and student loan statements, so you can double check the 2005 figures and the 2006 figures.

Quite often the form 1098T is incorrect.

Sansy

[Brad Imsdahl]

TTB, page 12-2 says the 1098-T shows tuition that the school billed to the student. It does not list the amount the student actually paid.