Originally Posted by megara
My daughter got a full scholarship. We got no 1098, and nothing that shows how much she received. Our tax software asks how much she got. I asked the school and they said since she got more in scholarship than she paid, no tax forms are generated. So do I ask the school how much her scholarship was worth and put that in? ??? (Are we going to be taxed on it?)
The portion of a scholarship or a fellowship that is used to pay for tuition and fees, books,
supplies, and equipment that are required for the student to enroll or attend a qualified educational
institution is non-taxable. Any portion of scholarship or fellowship income used for any other purpose is
taxable and should be reported as income on the return of whoever claims the exemption for the student.
Also taxable is any scholarship or fellowship income received as compensation for teaching or research; depending on the amount of scholarship money you receive, you may have to report some of it on your federal income taxes. Scholarship is less than tuition means no taxable scholarship. asked the school when you should expect to get a 1098-t form; You must file Form 1098-T if you are an eligible educational institution. An eligible educational institution that is a governmental unit, or an agency or instrumentality of a governmental unit, is subject to the reporting requirements of Form 1098-T
If you were supposed to recieve a 1098-T , please access it at http://www.1098-t.com/