Does an incorrect Form 1098T matter?

4kidsdad
Sun, 26 Jan 2014 16:13:38 +0000

Does your school reports box 1 or 2?

See http://www.fs.uci.edu/tra97/faqs/1098t.htm#Box1 for school reports “Payments received” on box 1

See http://www.american.edu/finance/studentaccounts/1098-T-Information.cfm for school reports “the amounts billed (qualified tuition and related expenses)” on box 2

If you really think your 1098-t is incorrect, just put down the correct amounts on your tax returns.