I am having trouble reporting the taxable portion of my Pell Grant.
I received a Pell Grant of around $11,000 for the 2022-2023 year. Only around $500 of it was used for the qualified education expenses. A little more than half of rest of the grant (~$6,000) was used for other expenses that do not fit the qualified education expenses description, and the other half has not been used(~$5,500).
I believe I should report the $10,500, but I'm not sure how to report it correctly.
One way might be by putting it under as miscellaneous income in the "Wages and Income" section. It seems to work. Another way seems to be putting it under as expenses for room and board in the "deduction and credits" sections. Which one would be more efficient and suitable?
Additionally, I have a problem that asks me to enter information for Form 3800: Line 10 and Line 6 of the year 2022 that I do not know or have. It also askes me to enter information for Form 8615: Line 6 of the year 2022 that I do not know or have. Can this information be found in my parents 2021 tax return documents?
I would really appreciate some help with these problems.
