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Scholarships, fellowship grants, and other grants are tax-free if you meet the following conditions:
However, You must include in gross income:
For more information please check: Scholarships, fellowship grants, and other grants
If you're not getting any tax form, it's probably safe to assume it does not need to be reported. On the other hand, since your tuition is totally covered by tax free scholarship, you cannot claim a tuition credit.
Scholarships paid directly to the school are usually reported by the school in box 5 of the 1098-T. On the other hand, schools frequently don't issue a 1098-T when the tuition is totally cover by scholarship.
Is the hospital your employer? Or is the hospital associated with the school or some combination thereof. That is, do you know that this money is "scholarship", as opposed to "employer assistance". Scholarships, for tuition, are tax free. Only the first $5250 of employer assistance is tax free. Any additional is included on your W-2 as income. So, even if it's employer assistance, it doesn't get reported (the taxable part is already on your W-2).
thanks
yes, I am the hospital employee and i did not see any different from my W2. the scholarship is directly paid to the school to cover the tuition. but i paid fee of books, supplies, and equipment required out of my pocket. can i get lifetime learning credit? i did not receive form 1098T.
Q. I paid fee of books, supplies, and equipment required out of my pocket. can i get lifetime learning credit?
A. Yes, it's 20% of the amount you paid. After answering no to having a 1098-T, answer yes to qualifying for an exception (that gets you to the entry screens).
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