Hello! Last year I was a student at a trade college, and in the middle of Covid, The school gave the students a relief payment of money. Do we have to report that on our taxes?
Hello! Last year I was a student at a trade college, and in the middle of Covid, The school gave the students a relief payment of money. Do we have to report that on our taxes?
If your school returned part of your Tuition for Covid, deduct the amount you received from any Education Expenses you are claiming on your return.
If you received a 1098-T that shows the original amount of Tuition Paid, when you enter it in TurboTax, check the box that says '..this is not the amount I paid to the school..' and enter the amount of Tuition Paid, reduced by the refund you received.
If the 1098-T already reflects the refund you received, just enter it as shown.