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    1098t

    Need clarification for 1098T

    1098T box 2 amount billed is less than box 5 scholarship or grants. The only amount the taxpayer received was a portion of cost for tuition. Taxpayer is child of employee of University and receives tuition/fee waiver. Why would Box 5 amount exceed Box 2 amount. Employees and dependents have to pay a small portion of their tuition.

    Different taxpayer - Box 2 is more than Box 5 which is the way it should be but Box 6 has an adjustment for a prior year. What to do with it when taxpayer did not receive any actual money - just the fee waiver. Pub 970 not helpful. As I understand it taxpayer will have to recapture the deduction for 05. Where does it go? And why? I am thinking that taxpayer needs to go to the Bursar's office and inquire about the discrepanies.

    Opinions please!

    #2
    I’m not sure if this helps, but keep in mind the 1098 T does not list anywhere the amount of tuition actually paid during the year. It only lists the amount that was billed.

    Maybe there is some carryover costs from another year that the tuition/fee waiver was used for.

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