topic FORM 1098-T in Education

FORM 1098-T

mirs1994 — Mon, 24 Feb 2025 18:21:29 GMT

I received a FORM 1098-T showing a payment received for scholarships and/or grants of just over $4000 in box 5. I didn't end up attending that school and therefore never actually received any monies.

I don't think that I have to include these monies as income. How do i handle this?

Re: FORM 1098-T

Hal_Al — Mon, 24 Feb 2025 18:50:55 GMT

Q. How do i handle this?

A. Ignore it.

The 1098-T is only an informational document. The numbers on it are not required to be entered onto your tax return. However receipt of a 1098-T frequently means you are either eligible for a tuition credit or possibly your student has taxable scholarship income.

You claim the tuition credit, or report scholarship income, based on your own financial records, not the 1098-T.

Re: FORM 1098-T

NicolleR1 — Mon, 24 Feb 2025 18:51:34 GMT

Scholarships reported on Box-5 of your 1098-T its usually tax-free and does not need to be reported. If you did not attend to college, I assume those funds were returned back to the college or the institution that issued the grant/scholarship. If this was the case for tax filling purposes you do not need to enter the 1098-T