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Grandparents Paid Tuition + Scholarships that exceed Qualified Expenses
My daughter's 1098-T has $7410 in qualified tuition and related expenses. Her grandparents paid $6127 directly to her college for tuition to avoid any gift tax implications, she received a $1500 scholarship from the school, and $7000 in scholarships from other sources. None of us are eligible for an education credit.
She will file a tax return for income from part time jobs. How much does she need to report as income from scholarships on her own tax return?
March 27, 2022
12:10 PM