The Motley Fool Discussion Boards
Financial Planning / Tax Strategies
|Subject: Re: 1098T/Education credits?||Date: 2/13/2013 6:33 PM|
|Author: GolfForeU2||Number: 117750 of 122648|
We have been blessed with great scholarships and know that any scholarship funds that go toward non-qualified expenses are taxable.
Have assumed that the 1098T from the colleges are accurate... So, will have to check those figures.
Just can't imagine that $1.00 credit is really needed since taxes are owed on scholarship money for those non-qualified expenses.
The 1098T from the JC summer class does NOT have any boxes checked. The 1098T from the regular Fall/Spring university DOES have full time box checked. Turbo Tax does not seem to be able to distinguish their difference for some reason.
Seems it should be more simple to figure overall.
Thank you for your feedback! Appreciate it.
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