topic Re: 1098T in Get your taxes done using TurboTax

1098T

dlp17 — Sun, 06 Apr 2025 17:11:55 GMT

I got the 1098T from my child's university. Box 5 has the total amount of scholarship that he got for Fall 2024 and Spring 2025. Is that correct since I am filing for 2024 tax year? Shouldn't it be just the half of that amount? Please advise.

Re: 1098T

Bsch4477 — Sun, 06 Apr 2025 18:14:27 GMT

See the discussion here.
https://ttlc.intuit.com/community/taxes/discussion/2024-1098-t-box-5-includes-scholarship-and-grants-for-2025-spring-semester/00/3468021

Re: 1098T

dlp17 — Sun, 06 Apr 2025 18:29:58 GMT

Thanks and I just want to verify I am thinking correctly.

This is his first year and Box 7 is checked, so I will need to check "yes" on "was any of the scholarship income not designated to pay 2024 education expenses?" and put the correct amount that was used on 2024?

Re: 1098T

Bsch4477 — Sun, 06 Apr 2025 19:53:24 GMT

Correct.

Re: 1098T

dlp17 — Sun, 06 Apr 2025 20:08:45 GMT

Thanks!