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dd4vols
Level 10
yesterday
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had a 2023 1098-T with like $13,500 in box 1 and it had the boxes checked about including amounts for ...March 2024 checked. Scholarships were only $2,500, so no issues.
along comes the 2024 1098-T, and has -0- in box 1, and $1,250 in scholarships.
Student info page part IV properly lists the current (2024) year 1098-T from my 1098-T input page. -0- in box 1 and $1,250 inbox 5. So, do I manually input the college (same college) info on the next enterable line, and put the $6,750 that was paid in Dec 2023 but for March 2024 semester?
Thanks for any help or words of wisdom you might have. Just trying to get the $1,250 to not show up as taxable
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1 Comment 1
Frustrated-in-I
Level 8
yesterday
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If I am understanding correctly, sounds like your client screwed up by paying the $6750 in December 2023 instead of January 2024. Not only is do you have a tax on the scholarship issue but there are no qualifying tuition expenses paid in 2024 for a tax credit.
