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U.S. citizen studying abroad as international grad student. How should I report my grants/scholarships vs. tuition as foreign income?
Hello. I graduated my US undergrad institution in 2020, and transitioned to virtually attending a grad school in Canada for the remainder of 2020 (meaning that I lived in the US for the full year). I have two tax documents from my Canadian institution, a T4A (reporting scholarships/grants), and a T2202 (reporting tuition). However, I was never actually paid any money because I did not have a Canadian bank account until I moved to Canada in 2021 (although there was an option for me to have them write an international check, which I did not do). How should I report this on my taxes as foreign income? Do I report just the scholarships and grants, or do I take the difference between the two (since I never actually saw the money that went into tuition)? Do I have to report it at all? Further, how should I convert the CAD to USD? Do I just take the conversion rate from a quick google search?