I have a 1098-T with a positive amount in box 4 and a negative amount in box 6.

Posted in the Rice Forum

jeremypaz696

Las Vegas, NV

#1 Nov 3, 2013
I have a 1098-T with a positive amount in box 4 and a negative amount in box 6. What should I do?I'm helping someone with their taxes. They went to the same university in 2009 and 2010, and now in 2011. They say their enrollment status has not changed -'at least halftime'. In 2009's 1098-T, box 1 =$4703.48, box 2 = 0, box 3 = no, box 4 = 0, box 5 =$2543.48, box 6 = 0, box 7 is checked, box 8 is checked, box 9 is no, box 10 = 0. In 2010's 109-T, box 1 =$4379.00, box 2 = 0, box 3 = no, box 4 =$845.37, box 5 =$1537.00, box 6 =$-61.93, box 7 is checked, box 8 is checked, box 9 is no, box 10 = 0. I cannot figure out how to "re-figure the credit" to "recapture". This person said they remembered paying the $845.37 to the school, but right now I don't know if that came from grant/loan money or other money. What numbers do I use, and what calculations do I do, to get this "recapture" amount I'm supposed to report on this 2010 return I'm assisting with?

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