Education

Q. There is a question in TurboTax asking if funds were received for more than 1 year (yes). Does this question only relate to money received for "qualified educational expenses"?

A. Yes. 

 

Any taxable income, including the stipend, is reportable, on your tax return, in the year received. You may not spread it out over a two year period, even though it is "for" those two years. 

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