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Old 02-14-2014, 02:51 PM
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Graduate Student Tax Question 1098-T

I have two questions, one of which I'm almost positive I know the answer to and should be very easy. The other is somewhat subtle. I'm a graduate student. I teach a class every semester and in return, the university pays my tuition and I receive a stipend. The stipend comes as a regular paycheck and taxes are deducted from every check.

1. Am I responsible for paying taxes on tuition? I never see this money and it show up as a scholarship on my 1098-T.

2. Last year there was a mistake and the school didn't pay my tuition for Fall 2013 until this January. As a result, my 1098-T for 2013 says I was charged ~$23k but only received ~$11.5k in scholarship, making it seem like I paid the remainder myself. Next year my 1098-T will reflect this by showing that I received $11.5k more than I was charged by the university. What will the tax consequences of this be? For example, will I have to pay taxes on that excess amount next year? Am I eligible to take the Hope tax credit this year, and if so, will that screw me over next year?

Thanks for any and all help.

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