in Education
I have 2 1099-T from 2 different institutions (one for master, one for phd). For 1st 1099-T Master, Box 1 is a lot of greater than Box 5. For 2nd one (phD), Box 1 is < Box 5. Shouldn't it be allow to combine it so I don't have to pay tax. on scholarship? I read it somewhere, that is allowable.
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I meant 1098-T not 1099-T
Yes. Enter one 1098-T and combine box 1 for a total amount paid. Continue combining boxes as needed. Scholarship income can cover both forms. The IRS receives both forms and knows what they say so there are no issues combining these 2 informational forms for one correct tax form.
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