My son is in third year of college attendance, (graduating next month).
Last year he did not qualify for an education credit on my tax return. This year he does qualify. 2016 1098T has box 4 checked - Adjustments made for prior year.
2015 1098T shows box 7 checked - includes amounts for an academic period beginning Jan-March 2016.
In filing tax return my tax program Taxact is saying when box 4 checked on 2016 1098T this would require refiguring tax credit, taken in 2015. Seems like a silly question, but want to confirm. I am thinking that since no education credit was taken in 2015 that there is no refiguring needed. Am I understanding this correctly?
Thanks!!