I received a 1098T where my scholarships / grants in Box 5 exceed eligible deductions. In order to qualify for the AOC credit, could I leave the Box 5 blank and instead add the entire value to the Other Miscellaneous Income? For the deduction / credit section with 1098T I only recorded education expenses and left the reported grants / scholarship as 0. Is this allowed?
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Generally, no, this is not allowed.
However, per IRS Publication 970 Chapter 2 Page 16: Coordination with Pell grants and other scholarships.
Related information:
[Edited 3-12-19|7:17 am PST]
Generally, no, this is not allowed.
However, per IRS Publication 970 Chapter 2 Page 16: Coordination with Pell grants and other scholarships.
Related information:
[Edited 3-12-19|7:17 am PST]
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