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I have a special case where essentially my entire scholarship becomes refunded to me, how do i enter that as taxable income?
So as the title says, I have an arrangement with a Third Party where they pay for my tuition before my scholarship releases, and in return my school refunds me essentially the entire scholarship back. However, due to this arrangement my 1098-T form doesn't show the correct amount of scholarship money that I have left over, and I'm afraid that my income from the refunded scholarship isn't calculated correctly. How do I Input the total refund amount that I received ($6601.81) onto my tax form, assuming it's all taxable? (it didn't go to room and board)
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‎July 19, 2022
7:10 PM