<p>I am working abroad so I got an extension to file until Oct. 15th.</p>
<p>Anyway, I really hope someone can help me with this as it has me sort of worried. I graduated in May of 2011, and my 1098-T for 2011 has my tuition as $0 and my aid as $3500. This looks like I got a lot of free money for nothing, but actually this is because I was billed for Spring 2011 tuition in December of 2010. Thus the tuition was on the 2010 1098-t and not on this one (my parents claimed me that year). The aid was used in January of 2011 so it shows up.</p>
<p>I am wondering if the IRS will know this or if they will audit me for not including the $3500 as part of my income (I never got that much money, it went straight into my student account and back to the uni). On older 1098's there has been a section for "excess" aid that I received. This is plainly not on my 2011 1098-t because I never got $3500 of free money.</p>
<p>Even if I count the $3500, I still will not have made enough to owe anything, but I am not sure what to do.</p>
<p>Any advice on how to handle it?</p>
<p>Did you claim / use the tuition of Spring 2011 in your parents or your 2010 tax returns?
If yes, you may have to report the $3500 aid as the scholarship income on your 2011 tax returns.
If no, you or your parents may use the Spring 2011 tuition to cancel out the aid on the 2011 tax returns.</p>
<p>BTW, if you could support yourself or not in 2011, your parents may still could claim you as a dependent.</p>
<p>I didn’t file in 2010 as I made no money.
My parents claimed me and they may have gotten some tax credit using the 2011 tuition.</p>
<p>Would it not fall on THEM to file an amended form?</p>
<p>I just got off the phone with the IRS and my University. IRS said to ignore the 1098-t, and if I had no excess aid in 2011 then it is not income.
University said that I had no excess aid and sent me a document showing where the aid paid out in 2011 to cover the bill although it was billed to me at the end of 2010.</p>
<p>I am not responsible for how my parents file their taxes and cannot force them to do anything. All I know is that I would be lying if I said I got excess aid as income because I didn’t get a dime extra.</p>
<p>
I think you all set. The document from University shows the 2011 aid was accounted for; thus, it is not your income.</p>
<p>You should document your call to IRS and keep 1098-T & the document from the University.</p>
<p>Since you’re working abroad, you should consult a tax person for your tax returns.</p>
<p>Right. This is my first time filing myself and my taxes are infinitely complicated due to half of 2011 being foreign earned income. Luckily I have had a lot of help with that part. The financial aid was the last questionable thing.</p>
<p>I just called the IRS again and the man told me not to count it as income. He said if it were ever questioned, and he doubted it would be, then I could show the student account document which explains that I received no excess aid in 2011 and that the aid went straight for tuition. Then the worst case would be that my parents might have to amend their 2010 return.</p>