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Education
What if the university provided $4,000 in scholarship funds (1098-T has $4000 in Box 5) to my daughter for working for one of the university's sports teams. She did not receive a W-2 and the money was put directly into her account at the university cashier/bursar. I have entered the 1098-T information in Turbo Tax including over $9,000 from Box 1 and the next question is asking about tax free benefits. Is this $4,000 considered tax-free employer provided assistance? Would I answer Yes, she received this help to pay for school?
May 12, 2021
8:47 AM