My tuition for the academic year was fully covered with grants and scholarship. My FAFSA was 4.5K. If I’m understanding correctly, I can put 4K of this amount towards taxable income which would be beneficial since my taxes owed vs AOTC would be substantially better with my current bracket.
What I’m worried about is that when I filed and I entered my 1098-T form electronically I had to subtract 4000 from grants/scholarships and then added that 4000 as a taxable scholarship. Was this done correctly?
