Should I include scholarships and grants I received this year?

Forum|Forum|4 years ago
April 15, 2022
2 replies
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I received a grant in January and a tribal scholarship payment in March of this year. I have a 1098-T form and box 5 (scholarships or grants) is blank.

TurboTax Online

Vanessa A

Yes, if your tuition was paid for by scholarships, and grants, this should be included on your return. Not including it would potentially give you (or your parents) a credit that you may not be eligible for if the scholarships and grants covered all of your tuition.

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laurenantoneAuthor

Hello, I took out a student loan to pay for my Spring semester. Both the grant and tribal scholarship were processed after the due date for tuition payments so I received a refund for both. Would I include both on my taxes since I received a refund?

RaifH

Yes, if you received Form 1098-T with an amount in Box 1 but nothing in Box 5, then you should include the scholarship and grant you received in January and March 2022.

Your Form 1098-T probably has Box 7 checked which indicates the tuition was actually for expenses incurred in 2022, so you should match up the tax-free assistance you received. You can do this by selecting Edit next to Scholarships/Grants (for all schools) in the Here's Your Education Summary screen.

Enter the amount you received in the Other Scholarships/Grants/Fellowships field.

Next year, you will reduce the amount of scholarship income reported in Box 5 by the amount that you are claiming this year.