(Closed) I need a little tax help — translate the jargon for me?

posted 6 years ago in Legal
Post # 4
Member
1798 posts
Buzzing bee
  • Wedding: August 2011

Just fill out your taxes with EXACTLY what’s in the 1098-T. If a box is blank on the 1098-T, just leave it empty on your taxes as well. I think a lot of schools use either box 1 or box 2, not both

Post # 6
Member
1798 posts
Buzzing bee
  • Wedding: August 2011

Edit: I just re-read your post. I guess I’m too used to Turbo Tax where they specifically ask you for the numbers in each box. Sorry! Embarassed

Since your school only reports the amount billed, you should fill in that amount minus any grants or scholarships received.

Post # 8
Hostess
18643 posts
Honey Beekeeper
  • Wedding: June 2009

Put the amount from Box 2 in the system.  If you had scholarships, deduct that amount from the amount you paid but loans do count as amounts that you paid for tuition.

PM me if you have any questions!

Post # 9
Member
1798 posts
Buzzing bee
  • Wedding: August 2011

Box 2 on a 1098-T is the amount that the school billed you, it’s not necessarily what they received as payment from you or a lender.


Based on the bolded section, include student loans, just subtract anything billed that wasn’t paid (grants, scholarships, etc). 

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