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My son has a Cal Grant, and UC Grant totaling 20,000 for the academic year 2018-2019. The 1098t box 5 only lists 10,000 which is just about 1 of the grants.

Will next years 1098t have the remaining amount on it due to the academic year

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KrisD
Intuit Alumni

My son has a Cal Grant, and UC Grant totaling 20,000 for the academic year 2018-2019. The 1098t box 5 only lists 10,000 which is just about 1 of the grants.

Yes, the IRS requires schools to report the 1098-T for the tax year, which is confusing at times since the school year often overlaps the calendar year. 

Box 1 reports what was paid to the school in the tax year and Box 5 reports the scholarships that posted in the tax year. Box 1 should include Box 5 unless any of the scholarship was refunded to the student, in which case it could becomme taxable income to the student. 

In your situation, the remaining  10,000 will post on the 2019 1098-T. 

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1 Reply
KrisD
Intuit Alumni

My son has a Cal Grant, and UC Grant totaling 20,000 for the academic year 2018-2019. The 1098t box 5 only lists 10,000 which is just about 1 of the grants.

Yes, the IRS requires schools to report the 1098-T for the tax year, which is confusing at times since the school year often overlaps the calendar year. 

Box 1 reports what was paid to the school in the tax year and Box 5 reports the scholarships that posted in the tax year. Box 1 should include Box 5 unless any of the scholarship was refunded to the student, in which case it could becomme taxable income to the student. 

In your situation, the remaining  10,000 will post on the 2019 1098-T. 

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