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Scholarships not listed on 1098-T
I just found out that scholarships my freshman received and declared, but had deposited to her bank account instead of sending checks to the college, will not be on 1098-T. The university only puts scholarships that were sent to them in Box 5. I did transfer the scholarship money from my daughter's bank account to my checking account and used them to pay part of the tuition and fees (they didn't cover everything). Where do I declare them (and on her 1040 or mine?) so that they won't be included in her taxable income. I'm assuming that she will get 1099-Qs for the larger ones at least.
‎December 13, 2022
10:23 AM