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2609152
My son received a scholarship specifically to take a summer coop overseas. The amount of the scholarship was $4000. Of that $2500 was for "Study Abroud Faculty Led", $1020 was for "CE Tuition" and $30 was for "CE Registration Fee". The remaining $650 was refunded to his account. On his 1098-T statement he had $17639 in qualified expenses and $11849 in scholarships and grants, including the $4000 mentioned above. Given the qualified expense more than exceeds the amount in scholarships, is any of the $4000 taxable?
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No, if the $4,000 was included in box 5 and the total scholarships were less than the qualified education expenses, this would not be taxable income.
Thanks, that was what I was thinking but sometimes it isn't clear especially if the scholarship is setup for something specific (Summer Coop) but can be used more generally so wanted to confirm.
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