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Level 2
April 6, 2021
Question

Can you show 1098T scholarship income as taxable and use the tuition as credit and not netting them

  • April 6, 2021
  • 1 reply
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    1 reply

    rbynaker
    Level 13
    April 6, 2021

    Do the terms of the scholarship allow the funds to be spent on non-qualified expenses such as room & board?  If you are able to allocate scholarship funds to R&B it becomes taxable and decreases the amount applied to AOTC QHEE.