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April 6, 2025
Question

1098T

  • April 6, 2025
  • 1 reply
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I got the 1098T from my child's university.  Box 5 has the total amount of scholarship that he got for Fall 2024 and Spring 2025.  Is that correct since I am filing for 2024 tax year?  Shouldn't it be just the half of that amount?  Please advise.

    1 reply

    dlp17Author
    April 6, 2025

    Thanks and I just want to verify I am thinking correctly.

     

    This is his first year and Box 7 is checked, so I will need to check "yes" on "was any of the scholarship income not designated to pay 2024 education expenses?" and put the correct amount that was used on 2024?

    Employee
    April 6, 2025

    Correct.