/ Is this the total amount of scholarship money I will be taxed for in box 5 ?

Print Friendly

The amount of scholarships or grants for the calendar year (including those not reported by the institution) may reduce the amount of any allowable tuition and fees deduction or the education credit you may claim for the year. Please refer to IRS Publication 970, or contact the IRS at 1-800-829-1040 or, you may wish to share this information with your tax advisor.

1098-T Form Box Fill-in Instructions (obtained from http://www.irs.gov/pub/irs-pdf/f1098t_07.pdf)

Posted in: Tax Information (1098T)

Leave a Reply