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I have excess scholarships/grants (Pell grant and Navy Tuition Assistance) and was wondering if the the Navy TA qualifies as tax-free employer assistance?
I am working on my taxes and am currently on my 1098-T. My amount billed for qualifying expenses in box 2 is: $7,750.00. My total scholarships in box 5 is $12,736.00. My scholarships/grants for 2017 were the Pell Grant : $7,236.00. The other $5,500.00 was from Navy Tuition Assistance. My question is after I input my 1098-T i see:
"Tell us if the scholarship amount from Box 5 of Brandon's 1098-T includes any of the following: GI Bill benefits Veterans' benefits Tax-free employer provided assistance"
Would my Navy TA ($5500) count as tax-free employer provided assistance?
Also, should I be reporting the excess of my grants/ schlorships under income or will TurboTax automatically do that? Thank you!
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‎June 6, 2019
10:13 AM