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Level 1
June 4, 2019
Question

Once I reported my 1098-t my tax refund decreased by $500. What did I do wrong? My tuition was 4000 my grant was 8000.

  • June 4, 2019
  • 1 reply
  • 8 views
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1 reply

Alumni - Champ
June 4, 2019

Grants in excess of qualified education expenses are taxable.  But be sure to record any other applicable expenses.

https://www.irs.gov/charities-non-profits/private-foundations/grants-to-individuals