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1098T - Payments vs Scholarships, Grants
After working through the Education/Expenses and Scholarships (Form 1098T) section of TurboTax, it told me I am not eligible for an education credit - even though I received one last year for the first time. Looking at the numbers, Box 1 was approx $32k and box 5 was $26k - so I'm not sure why it tells me Scholarships and Grants exceed educational expenses. Does 529 money get rolled into this equation too? That was about $10k this year, which would put it over the tuition expenses, but it would be used for room and board (vs the $32k for tuition).
March 28, 2021
10:17 AM