Form 1098-T and FAFSA Grants Question

daimos0
Wed, 26 Jan 2011 01:18:46 +0000

Than you for the help! I’m a 6th semester junior right now, and apparently my school is adjusting the way tuition and fee charges are presented on the annual IRS Form 1098-T statement. “So Beginning tax year 2009 your total eligible charges (known as Qualified Tuition and Related Expenses) will be based on the billing date rather than the due date.”

"There will be two main effects resulting from this change:

1. The first effect is that your Spring 2010 charges will appear on your 2009 statement instead of your 2010 statement.

2. The second effect is a one-time situation where three semesters (Spring 2009, Fall 2009 and Spring 2010) are all reflected on your 2009 statement instead of the usual two. Subsequent to this, all statements (beginning in tax year 2010) will again reflect only two semesters."

Do you guys think there is some kind of error on the 1098-T form? Or am I looking at the numbers wrong? I keep very good records for every semester.

Correction room and board is about $6,000 for the whole year. I’m hoping that my loans are covering that aspect and the grants the qualified expenses?

Thanks

Jake