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So I'm definitely feeling really confused right now. Last year, I had about $13,500 in scholarships and $2275 in qualified educational expenses (tuition + books). My school didn't issue me a 1098-T but I went ahead and claimed everything on my 2007 tax return because I was scared the IRS might come after me if I didn't.
Well, lo and behold, my university finally issued me a 1098-T this year with information from 2008 AND 2007, and it's all been reported to the IRS. What in the world do I do? I already paid taxes on 2007 expenses, and I don't want to double pay, but will the IRS audit me if I fail to pay for the 2007 portion reported this year? It's a huge mess and I'm not quite sure what to do.