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What do I enter on my taxes from form 1098-T box 1?

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  • What do I enter on my taxes from form 1098-T box 1?

    Hi. First post.

    I received this form in the mail AFTER filing my taxes. Since I didn't have (and didn't think I'd be getting) this form, I filed my taxes online without it. I entered the school and address and entered only the amount I paid "out of pocket" - which is way different from box 1 on this form.

    This form lists the total amount of tuition the school was paid from loans, grants, etc. This is not the amount I actually paid "out of pocket". Was I supposed to enter this entire number (several thousand) or just what I paid out of pocket (a few hundred)? It makes a huge difference in my owe/return amount because of education credits, etc. so I want to get it right.

    To complicate matters, I also already direct-debit paid what I thought I owed the IRS and my state using my "out of pocket" numbers. So if I did it wrong, not only do I have to re-file or ammend my State and Federal returns, but I'm owed a refund on top of what I already paid in error. Ugh. So much for being responsible and trying to pay my taxes before they were due... Help? THANKS

  • #2
    Just enter the amount actually paid. I went through this myself this year with my company paying part of my tuition. Just keep records or reciepts of payments and you should be okay.

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