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Education
Hi,
On Turbo tax show " That because scholarships and other education assistance are considered taxable income if they exceed education expenses, if the money was used to pay for nonqualified expense or was not enrolled in a degree, certificated or credential program at an eligible school. she will need to file a tax return to include this 20500 amout taxable income."
I don't understand form 1098T should cauculated the tuition 53000 (Box #1) to minus the Scholarships or grants 20500 (Box #5) but in this case is something not right.
I did reenter the form 1098-T but it not work. Please help/ Thanks
March 5, 2020
7:39 PM