Hello Hal,
I really need your help in regards to my daughter's 1098-T Form. Box 1 amount: $15,827.64, Box 5 amount: 20,493. She has W-2 in total of $5,567 and interest in the amount of $$53.71. How do I enter the information on Turbo Tax if my daughter uses $7,277.36 as income on her tax return (for taxable scholarship income) so we can take the American Opportunity Credit? She would still be under the income threshold so she will not have to pay taxes. I came to this amount by 20,493 - 15,827.64 = 4,665.36 + 4,000 = $8,665.36 - 1,388 (laptop and book) = $7,277.36. I think I figured this right.
Thank you,
Jennifer
