1098-T Covid payment delay

Forum|Forum|5 years ago
February 14, 2021
6 replies
31 views

Client received 1098-T Box 1 $10,000

School allowed deferral of payment until fall of 2021

So he paid non in 2020, advise as to when to claim?

Thanks

ProSeries Professional

This topic has been closed for replies.

Best answer by Terry53029

Tuition is claimed in year paid, I always have my clients provide their receipts, as 1098s are notorious for being incorrect

T

Terry53029

Answer

Intuit Community Champion

Tuition is claimed in year paid, I always have my clients provide their receipts, as 1098s are notorious for being incorrect

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ColmattAuthor

Level 5

I do too but I was hoping for a Covid exception of some sort.

BobKamman

Level 15

Don't ask us, ask the school. Maybe they arranged a loan from a third party, so that the tuition did get paid. Box 1 should show only amounts actually received. If it's wrong, get it corrected.

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Terry53029

Intuit Community Champion

@BobKamman Bob, have you ever been able to get a corrected 1098T ? if you have, your doing better than me. Many years ago I would try, but now I don't bother. I guess that is the reason the 1098T worksheets in most professional tax software make a box to put the amount actually paid. 😁

TAXOH

Level 10

A few years ago one of the Universities where I lived had messed up the original 1098T's and issued corrected ones to the students that were affected by it. (I had nothing to do with talking them into correcting them. 😁 I don't know if someone else did or if they discovered it on their own).

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