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Get your taxes done using TurboTax
I am in the same boat. Box 1 is less then Box 5, nothing is in box 2, but the scholarship I have from my job only pays for books, fees, and tuition costs. Any remaining funds is sent back to my employer and added to their scholarship committee's account for the next's years round of recipients. I never see a penny of that scholarship. Do I still have to report my 1098-T and count this scholarship as income even though it is not? And if so, wouldn't that mean I am paying taxes on money that will be taxed again by the recipients after me or potentially already been taxed by the people before me? This is so confusing. Any advice? I am leaning towards not reporting this form since none if it was actually income for me.
‎January 30, 2020
7:14 AM
28,859 Views