Wednesday, November 2, 2011
I received a 1098-T and the amount billed in box 2 includes the 2011 semester?
So amount billed in box 2 is for two semesters, the second which started in 2011, however my scholarships did not post to the account until into 2011 so the scholarship amount in box 5 only for the fall 2010 term. Won't this screw me over for next year when I have the scholarship amount for 2 terms but the amount billed for only 1? I'll have way more scholarships than amount billed. Is there a way to reconcile this? Additionally, my scholarships per term are always more than my tuition, so part of it should always be taxable. So confused...
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