Hi,
Thank you for the above response! I have a follow up question.
Q. I don't need to finish using up the scholarship fund in the year (2022) I received as long as I use it to pay for my tuition. Am I right?
A. No. If a check was issued to you in 2022, all the money, from that check, must be used for 2022 expenses.
If I use up the scholarship to pay for Fall 2022 and Spring 2023 tuition in 2022, is Spring 2023 considered 2022 expenses if it is a prepaid for an academic period that begins in the first three months of the next calendar year? Is there any IRS Publications I can refer to? Thank you!
