My 1098T lumped all of my scholarships/grants and student loans together, is there a way to separate what I received as a loan vs a grant? Will this impact my return?
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My 1098T lumped all of my scholarships/grants and student loans together, is there a way to separate what I received as a loan vs a grant? Will this impact my return?

 
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My 1098T lumped all of my scholarships/grants and student loans together, is there a way to separate what I received as a loan vs a grant? Will this impact my return?

Box 5 should only report your Grants and/or scholarships, which may be taxable or not, depending on what you used them for. 

Loans you took should not even be reported on your 1098-T.

Compare your 1098-T to your school account statement. If it doesn't make sense, take it to the school's financial aid office and have them explain it to you. 

Box 1 should report what the school received as payment on your account in 2018. (from all sources)

Box 2 should report the scholarships and/or grants you received in 2018. 

CLICK HERE for IRS Pub 970 Education Credits


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