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My daughter is a grad student. Is her taxable amount the difference between Box 5 and Box 1 on her 1098T? Are there reasons the taxable amount would be adjusted?
Her tuition is covered by a fellowship and that amount is shown in Box 1. Box 5 appears to include her tuition plus her monthly stipend. In my mind, her taxable amount would be the monthly cash stipend she receives. However the difference between Box 5 and Box 1 is greater than the stipend and therefore it is taxing her on a larger number. Can the taxable amount be adjusted to be what I think it should be or does she have to pay taxes on the amount that box 5 exceeds box 1? No one at the University is able to tell her what other items may be included in Box 5.
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‎June 6, 2019
12:41 AM