@tracy96 wrote:
I am having similar issues. After submitting my 1098T form, it took a significant amount of my refund away because box 5 was greater than box 1. That's fine. But I am now having to wait for Tax form 8615 to become available... will I be taxed an even greater amount after this? or is this form just a formality? thanks.
It is not optional. Scholarships in excess of tuition is taxable income. It would be tax evasion to intentionally leave taxable income off of your tax return.
**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
