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Question

Why did my 1098-T lower my refund when the grant I received from my school went directly to tuition via themselves? I never saw this money?

Forum|Forum|5 years ago
February 2, 2021
1 reply
0 views

I got $919 as a grant for a momentum program from the school, which applied as a credit for three free classes. I never ever saw this money. In addition, I spent more on school in 2020 and received less in tax credit not including the grant situation. My total refund went down to $381.

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You probably entered it wrong in TurboTax. But, the money does not have to pass thru your hands to be taxable income. Any scholarship applied to your account without offsetting tuition charges will be considered taxable income.

Was the value for "three free classes" (presumably $919) included inbox 1 of the 1098-T? Was the $919 scholarship include in box 5? What were the amounts in boxes 1 & 5?