- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Education
I respectfully disagree--under section 117 of the Code an undergraduate scholarship covering tuition is not income no matter what the Form 1098-T says. Box 7 of the Form 1098-T is checked by the educational institution if it includes in tuition amounts from Boxes 1 and 2 that relate to a period beginning January-March of the following year. That is because the institution is only required to report what happens in the calendar year which is covered by the Form. So, it may well have included the tuition for the Spring 2017 semester in the Form 1098-T for 2016. That doesn't make the 2017 scholarship taxable. Worksheet 1-1, Line 6, asks for your qualified educational expenses. It doesn't say that you have to use the figure in your 2017 Form 1098-T. You can fill in your actual 2017 expenses to which your scholarship relates.
‎June 4, 2019
1:29 PM