I am a graduate student with a 1098-t that reports $13,169.76 in box 1 and $16,889.71 in box 5. The extra $3719.95 is the exact amount that graduate student health insurance costs. While the health care is not "mandatory" I also cannot opt out of the health insurance and instead pocked that $3719.95. As such, it seems that when I enter my 1098-t it lowers my refund quite a bit, considering that $3719.95 that I cannot otherwise obtain as taxable income.
Are graduate students liable for the tax on this health insurance cost? Or can we omit the 1098-t in this case?
Thanks for any help you can provide on this matter!
