RaifH
Expert Alumni

Education

It sounds like your school is double deducting your scholarship by reducing the tuition expense in Box 1 and then listing it again in Box 5. You can modify the Box 1 amount by selecting the This is not what I paid to this school box and enter the total tuition cost.

 

If your parent is claiming you, Form 1098-T would be reported on their return. The 1099-Q, if necessary would be reported on the return of whoever is listed as the recipient. In your case, you may not have to report any of it. 

 

Since the entire thing is a wash anyway, nothing has to be reported. However, if you or your parent, if they are claiming you, is eligible for an education tax credit, report the forms in addition to any other qualified education expenses you may have had to allow TurboTax to calculate an education tax credit. This may result in a portion of the 1099-Q being taxable but that will be outweighed by the education tax credit.