1098T Scholarship Taxation
I have a question about the taxation on an academic scholarship. Let's say my tuition is $20,000 (Box 2 of 1098T), and the school gives me a scholarship of $17,000 (Box 5 of 1098T) - which is used purely for tuition - not for books, living expenses, or room and board - I've effectively never touched or seen this money. Am I taxed on that $17,000 as if it's income? If not, how do I input this 1098T form accurately, without getting taxed on it? Thanks!