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Scholarship and taxes
I am confused and looking for some help regarding my daughters scholarships
We received a 1098-T with 25000 in box 5 and 11766 in box one ,all of this is for 2020, as to say it was not designated for the start of another year.
I would like some advise on how to file this between my return and hers as I am aware she needs to file based on the amounts.
I see the workaround to split the qualified and non qualified expenses between the 2 but can't wrap my head around how to do it!
All of her scholarships allowed use for both (Pell Grant, Obama Scholarship,Provosts award)
Could someone give me some scenarios based on these numbers?
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March 19, 2021
6:00 PM