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dlp17
Level 2
April 6, 2025
Question

1098T

  • April 6, 2025
  • 1 reply
  • 0 views

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.

    1 reply

    B
    Level 15
    Bsch4477Level 15
    Level 15
    April 6, 2025

    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

    D
    dlp17Author
    Level 2
    April 6, 2025

    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?

    B
    Level 15
    Bsch4477Level 15
    Level 15
    April 6, 2025

    Correct. 

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