Open TurboTax

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
Announcements
Your taxes, your way. Get expert help or do it yourself. >> Get started
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

cancel
Showing results for 
Search instead for 
Did you mean: 
mbisbee1
New Member

My 2016 1098-T Does not show the money paid of tuition, it was paid in December of 2015 for spring 2016, but it does list the scholarship I received for the spring 2016 term. It appears I am being taxed for the scholarship, what can I do about this?

 
1 Best answer

Accepted Solutions
Hal_Al
Level 15

My 2016 1098-T Does not show the money paid of tuition, it was paid in December of 2015 for spring 2016, but it does list the scholarship I received for the spring 2016 term. It appears I am being taxed for the scholarship, what can I do about this?

Basically, you just ignore it. Don't enter the 1098-T at all. it is only an informational document and does not have to be entered.

If the scholarship posted to your account, in 2016, covered the expenses billed in 2015; you do not have to report anything.

However, if you counted the expenses shown on your 2015 (box 2 ) 1098-T to claim a tuition credit on you 2015 return, you have a ''double dipping'' problem. In that case, some or all of the 2016 is  taxable scholarship income

View solution in original post

1 Reply
Hal_Al
Level 15

My 2016 1098-T Does not show the money paid of tuition, it was paid in December of 2015 for spring 2016, but it does list the scholarship I received for the spring 2016 term. It appears I am being taxed for the scholarship, what can I do about this?

Basically, you just ignore it. Don't enter the 1098-T at all. it is only an informational document and does not have to be entered.

If the scholarship posted to your account, in 2016, covered the expenses billed in 2015; you do not have to report anything.

However, if you counted the expenses shown on your 2015 (box 2 ) 1098-T to claim a tuition credit on you 2015 return, you have a ''double dipping'' problem. In that case, some or all of the 2016 is  taxable scholarship income

About Community

Learn about taxes, budgeting, saving, borrowing, reducing debt, investing, and planning for retirement.

3.49m
Members

2.63m
Discussions

Manage cookies
v
ABCDEFGHIJKLMNOPQRSTUVWXYZabcdefghijklmnopqrstuvwxyz0123456789-_~