Hello and good evening!
I tried reading through several other questions to figure out my son's 1098-T but a little confused so I thought I would just ask. Thank you for any help!
Box 1-$24,435
Box 5-$37,746
From what I understand as the "loophole" I would add the excess scholarship amount of $13,311 to my son's own tax return as taxable income and choose the option on my return on TT that I used a portion of scholarships and grants for non-qualified expenses (room and board etc). Is this accurate? Again, thank you for any help!
