Hello! I finished my 8th semester of college (4th year) in the spring of 2025. This was technically for a graduate program, but I was a full time student and hadn't exceded 4 years of college. For this semester, I received a $6500 scholarship that went entirely towards tuition. Additionally, I paid $2,404.16 out-of-pocket for the remaining balance of this semester on 12/6/2024.
On my 1098-T, Box 1 is blank (reflecting that no payments were received for tuition), Box 5 contains $6500 (reflecting my scholarship), and boxes 8 (at least half time student) and 9 (graduate student) are checked. When entering this information into my return as is, this $6500 is reflected as income for the year. In reality, all of it was used on tuition.
I was unsure if I would qualify for any credits since the payment I made was technically made in the previous tax year (2024), but I don't see why I would owe taxes on scholarship money that went entirely towards tuition. Is there a way for me to report this, or should I contact my school?
