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Get your taxes done using TurboTax
just to clarify - we claim our 19 year old daughter on our taxes but I just want to make sure I'm doing this right. She received a 1098-T from her university - in box 5, it shows she received $70,895 in scholarships and grants, and only $55,403 of that was in box 1. So we will end up claiming the difference of $15K or whatever on her OWN taxes, right? In addition to the $2,000 she made in part time work over the year?
Also - we paid around $1,000 in addition to her university in 2019 for the tiny bit that her scholarships didn't cover. Does that go anywhere on taxes? And we don't claim any of that excess scholarships OR credits on our taxes correct?
‎February 9, 2020
6:11 PM