| are payments made to my daughters college from an educational trust considered "scholarships"
My uncle set up an education trust to pay for the college expenses of his nephews and nieces, of which my daughter is one. When my daughter gets her bursar statement, we send it to my uncle and he sends money from the trust directly to the university.
2 questions:
For some reason the university is designating these payments as a “scholarship” on the 1098-T form I received this year. If I understand IRS regs correctly, I have to claim part of the amount they are paying as income (the room and board part). Is this really a scholarship?
If I can get the university to change the 1098-T and show a -0- in the scholarship box 5, can I take the American Opportunity Credit?
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