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I believe it was done in error and my school cannot issue a correction. What should I do on my tax return?
AI accountant’s answer:
If you believe the information reported on your 1098-T form is incorrect and your school cannot issue a correction, you should still accurately report your educational expenses when you file your tax return. Keep detailed records of your tuition, fees, and other qualified education expenses, such as receipts, invoices, and bank statements, in case the IRS asks for further documentation. When completing your tax return, you can manually adjust the qualified education expenses you enter to reflect the correct amounts, rather than using the potentially incorrect figures on the 1098-T. Be sure not to overstate or understate your expenses, and only claim education tax credits or deductions you're eligible for, based on your accurate records. Remember, it's always a good idea to consult with a tax professional to ensure you're completing your tax return correctly and following the appropriate steps for your unique situation.
Comment from reviewer
Ieva Ivanauskas, EA
Not Correct.
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