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1098 T Form - Scholarship and Grant Money Exceeds Tuition - What Now?
This is my first year filing as independent and I am lost with the 1098 T form I received from the college I attend. In fall 2020 I received a total of $2547.50 in grants/scholarships and I had $492 left over after tuition was paid, which I used for books. From my understanding, the extra money I had leftover does not have to be included in my taxable income because I used it towards qualified education expenses. When I file my taxes, how do I ensure that $492 I used on books is not included as taxable income?
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‎February 6, 2021
2:08 AM