Based on your information, it shows your scholarship amount ( box $5,000) is less than your tuition amount ( $7,000) It seems like you should qualify for an education tax break for the difference of $2,000 plus the extra books you paid for.
To enter your Form 1098-T in the program, here are the steps:
- Sign in to your account, select Pick up where you left off
- At the right upper corner, in the search box, type in "1098t" and Enter
- Select Jump to 1098t
- Follow prompts
If you received a scholarship that fully covers your qualified education expenses, it is like a wash. You do not get any tax break. If your scholarship does not cover all of your education expenses, you may still claim either a credit or deduction on your tax return. However, if your scholarship exceeds your education expenses, the difference will be treated as wages added on line 1 of your Form 1040. If you meet certain requirements, you may qualify for an education tax break including the American Opportunity Tax Credit AOTC, Lifetime Learning Credit or Tuition & Fees deduction. To see if you qualify, here are the links:
Qualified expenses
Deductions
Credits
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