Just to double-check, please go to the Word menu and choose About Word. The latest version is 15.41. If you don't have that version, please follow these instructions:
Make sure your Mac has a working internet connection before checking for updates. Install Mac OS X updates followed by Office updates.
Install Mac OS X updates first:
To get Mac OS updates, go to the App store on your dock, and then click the Updates button to reveal available updates.
Then Install Office Updates
To get the update:
- Open any Office application
- Go to the Help menu and choose Check for Updates
- Let AutoUpdate check for and install updates
- Restart your Mac
That said, I don't think updating will solve this particular issue. Right click on the border of your text box and choose a wrapping option other than In Line With Text. Try using Square, for example. That should make it easier for you to place the text
box where you want it.