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hayterchristine
New Member

What do I do with scholarships for my sophomore in college's 1098-T?Do I split them over two tax years?

 
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LisaBr
New Member

What do I do with scholarships for my sophomore in college's 1098-T?Do I split them over two tax years?

No, you cannot split 1098-T information for 2017 over two tax years.  Each 1098-T for each year needs to be reported on the corresponding year's taxes.

If scholarship's rewarded and entered on 1098-T are meant to be used for several years, you must report the income in the year of the 1098-T. 

Scholarship income is only taxable for amount not used to pay for education expenses. 

The following article addresses scholarships and the expenses related to education:

https://ttlc.intuit.com/questions/2172062-why-is-my-scholarship-taxable

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LisaBr
New Member

What do I do with scholarships for my sophomore in college's 1098-T?Do I split them over two tax years?

No, you cannot split 1098-T information for 2017 over two tax years.  Each 1098-T for each year needs to be reported on the corresponding year's taxes.

If scholarship's rewarded and entered on 1098-T are meant to be used for several years, you must report the income in the year of the 1098-T. 

Scholarship income is only taxable for amount not used to pay for education expenses. 

The following article addresses scholarships and the expenses related to education:

https://ttlc.intuit.com/questions/2172062-why-is-my-scholarship-taxable

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