I think my parents forgot to fill in box 7 and I was just wondering if this will greatly affect them. Will they have to redo their whole taxes?

Please clarify - do you mean form 1098T? And if so - that form is provided by educatuonal instituitions, so why would your parents be involved with filling any boxes on it?

Yes I mean that form and I'm a defendant. So they claimed me.

Dependent*

They didn't fill out the form themselves. I guess I really do need to clarify! Lol
They did their taxes on turbotax they virtually filled it out.

Your parents should re-run the return with Box 7 properly completed and see whether it makes a difference in their total tax amount. I don't believe it will, but better safe than sorry. Box 7 shows that some of the educational expenses they paid in 2011 are for a semester that begins in the first three months of 2012. These expenses can be used to figure their credits for tax year 2011, but not for 2012. So it shouldn't affect their 2011 return.

I didn't go to school in 2011, so they do need to change your then because it'd wrong. But it seems like a big hassle over one box. Amending their taxes seems like a big job. There were a lot of little odds and ends. It took hours.