1098-T

[lynnmo]

My daughter’s 1098-T reports box #2 for both fall and spring expenses that were all paid for in 2015. But box #5 only reports half of her scholarship money (one semester). Since box #2 represents the full year, should box #5 also?! Is it ok for me to double the scholarship amount on my tax return even though the form is different? Or is it best for me to keep it as is? Thanks!

[4kidsdad]

My daughter’s 1098-T reports box #2 for both fall and spring expenses that were all paid for in 2015.

Fall of 2015 expenses? Spring of 2016 expenses?

But box #5 only reports half of her scholarship money (one semester).

Fall of 2015 scholarships?

[lynnmo]

Yes, box 2 is the total of fall '15 and spring '16 expenses (paid all in 2015 because spring tuition was due and paid in December). Box #5 is only fall '15 scholarship. She received the same scholarship for Spring '16 and it is not reported on 1098-T.

[4kidsdad]

Is it ok for me to double the scholarship amount on my tax return even though the form is different?

Yes. See 2015 Pub 970 page 13,

Some tax-free educational assistance received after
2015 may be treated as a refund of qualified education expenses
paid in 2015. This tax-free educational assistance
is any tax-free educational assistance received by you or
anyone else after 2015 for qualified education expenses
paid on behalf of a student in 2015 (or attributable to enrollment
at an eligible educational institution during 2015).
If this tax-free educational assistance is received after
2015 but before you file your 2015 income tax return, see
Refunds received after 2015 but before your income tax
return is filed, later. If this tax-free educational assistance
is received after 2015 and after you file your 2015 income
tax return, see Refunds received after 2015 and after your
income tax return is filed, later

[Kathsj]

This is also our problem. I searched the net, and found an answer:
https://ttlc.intuit.com/questions/2819884-should-i-double-the-amount-in-box-5-of-my-1098-t-to-reflect-the-full-year-of-tuition-it-aided-in-box-2
I think I need to call IRS tomorrow.

[lynnmo]

@kathsj Did you look up Pub 970, page 13? From what I understand from that, you can change the scholarship amount when entering the 1098-T info I to your tax program if the scholarship is applied before you file your 2015 taxes.