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Education
Q, Is this done by allotting the full amount of my grants/scholarships as "amount paid toward room and board" on the TurboTax platform?
A. Yes. Not the full amount, but $11,500 in the first example and $10, 500 in the 2nd.
Q. Does it matter if I did not actually make a payment of tuition, since my university deducted the cost of tuition from my scholarship/grants and disbursed the excess grant money to me?
A. No. For tax purposes, you DID make a payment with your $4000 of tax reportable money.
Sunday