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Should I report my 1098-T? It states, "This will not be sent to you or to the IRS as the amounts do not require reporting."
A hard copy was not mailed to me. I obtained it online
from my community college account. Box 1 = $2,000, Box 5 = $3,000, Box 8 is checked. I am 19yo, single and
work full time, and I am required to file and cannot be claimed as a dependent
by anyone else. The difference between boxes 1 and 5 was pocketed, although I
did have to spend $200 of it on scrubs, a CPR class & book (both at a local
hospital), which was required but not offered at the CC. All other course
requirements, such as tuition & course books, were included in box 1. The amount in box 5 includes a state grant and pell grant, following my FAFSA submission. Am I really allowed to pocket the additional $ and not report? Do I simply ignore the 'higher education' subject? Thanks in advance for your help and advice!