Hi, What all do I include in Box 1 of the 1098-T if I received Financial Aid for school? Is it just the Grants and which ones? Scholarships as well? What if I've 2 1098s
Hi, What all do I include in Box 1 of the 1098-T if I received Financial Aid for school? Is it just the Grants and which ones? Scholarships as well? What if I've 2 1098s
Usually, you enter box 1 of the 1098-T, exactly as shown on the one you received from the school. It includes all payments from grants & scholarship , loans or your out-of pocket payments. "Grants" & "scholarships" are the same thing.
Why did you get two 1098-Ts? Does one of them say corrected?
Are you the student or the parent? If the student, why are you entering the 1098-T, instead of your parent? Do you need to report taxable scholarship or are trying to claim a tuition credit? In general, student-dependents are not allowed a credit. There's a new urban myth among college students that says they can get a $1000 from the government just for filing a tax form. For most of them, they simply aren't eligible.