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March 28, 2020
Question

Did not Receive a 1099-Q or a 1098-T- do i have to report scholarships?

  • March 28, 2020
  • 1 reply
  • 0 views

I received scholarship and grant money that reduced my tuition but did not completely cover the full expense.  I had to take out student loans to cover the cost of my tuition and fees.  I did not receive a 1098-T.  I did not use 529 money either and did not receive a 1099_Q.  Do I need to include the scholarship money in my tax return?

    1 reply

    KrisD15
    March 28, 2020

    Nope. 

     

    If you paid more in education expenses than what you received in scholarships, you could be eligible for a deduction or credit, but in that case, you would need a 1098-T. 

    IRS Pub 970

     

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