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Returning Member
posted Apr 6, 2025 10:11:55 AM

1098T

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.

0 4 660
4 Replies
Level 15
Apr 6, 2025 11:14:27 AM

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

Returning Member
Apr 6, 2025 11:29:58 AM

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?

Level 15
Apr 6, 2025 12:53:24 PM

Correct. 

Returning Member
Apr 6, 2025 1:08:45 PM

Thanks!