in Education
I don't have a 1098-T. The funding I get from my university consists of tuition support (say $20,000 for example) and a stipend (say $10,000). Should I report my tuition expenses as $20,000 and scholarships/grants as $20,000+$10,000=$30,000? Or should I report tuition as 0 (since it's paid by the university, not me) and scholarships/grants as $10,000?
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You would report your tuition amount as $20,000, then list $30,000 under Scholarship / Fellowship. The program will treat the exceeding amount of $10,000 as a taxable income, listed as SCH on line 1 wages of your 2019 Form 1040.
[Edited 4/5/2020 | 6:11 PM]
You would report your tuition amount as $20,000, then list $30,000 under Scholarship / Fellowship. The program will treat the exceeding amount of $10,000 as a taxable income, listed as SCH on line 1 wages of your 2019 Form 1040.
[Edited 4/5/2020 | 6:11 PM]
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