Info reported on 1098-T is not accurate, school refusing to change Hello -
I am a part-time graduate student in NYC. I am on a full scholarship from the Dean's Office so i do not pay for any of my tuition.
In 2015, for the fall semester, I registered for 9 credits and then dropped in 4.5 credits. The Dean's office made a mistake in that they paid the tuition for 9 credits (and never adjusted it) although i took only 4.5 credits. I was well within my rights to add and drop courses during the designated period so i did nothing wrong there. The Dean's office admits that they did a mistake and now (in 2016) they adjusted for it (it no longer looks like i have a credit on my account).
However, accounting department of the school is refusing to correct my 1098-T which make it seem like I received an income from the school (scholarship amount being higher than the tuition due) and this is increasing my taxes due by quite A LOT. I did not receive any money from school. The Dean's office internally transmits the funds to accounts receivable. It seems very unfair to me that I have to pay taxes on income I never had (due to someone else's error) and it seems wrong that the accounting department is refusing the correct this issue saying that it will be adjusted on my 2016 return.
Any thoughts as to how i can resolve this issue? Thank you. |