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Education
Q. So just verifying that this is correct and allowable, - we CAN report my son's 1098-T on OUR tax return and his grant income on HIS tax return?
A. Yes. The 1098-T is an informational document and can be used as an input mechanism on both tax returns.
Q. Is Grant income determined STRICTLY by the 1099-T Form Box 1 & Box 5?
A. No. As explained at your other post, you enter that from your own records.
On his return, the simplest work around is to manually calculate the taxable amount of scholarship and enter the 1098-T, on his return, with 0 in box 1 and the taxable amount in box 5.
‎April 17, 2022
1:11 PM