Wednesday, December 16, 2015

Scholarship or grants in form 1098 t tuition fee is it taxable in 1040?

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Scholarship or grants in form 1098 t tuition fee is it taxable ?

When the amount in Box 5 (scholarships or grants) is greater than the amount in Box 2 (amounts billed), the “difference”should be included on the student’s federal tax return as income.


If the amount spent is more than grants it will not be taxed.