Your Life

Your Life

Major life milestones often have a major tax impact. Changes in your marital status, having a baby or adopting a child can have significant impact on your taxes. This is the place to ask questions about dependents, real estate, and other various scenarios that play a significant role in what taxes you pay.

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Pioneer
Posts: 2
Registered: ‎03-28-2017

Scholarship Questions

Hi. I have a few scholarship questions. My daughter received several scholarships, none of which have restrictions.  We received a 1098-T from her school, but not the from 2 other sources she received scholarships from. Is it okay to include those without a 1098-T? Also, I read that we can claim expenses (tuition, books) for the first 3 months of the current year (on last year's taxes). Can we also include the scholarships credited during that same time-frame (the first 3 months of the current year, 2017)? And, finally, because my daughter received those scholarships, is required to file a tax return? She did not/does not have a job, but worked a 4-day camp, a couple of hours a day.

 

Thank you in advance for your help.

Tax Pro
Posts: 5,715
Registered: ‎02-23-2016

Re: Scholarship Questions

Hi D2Milligan,

 

Welcome to the H&R Block community.

 

So on the education credits & income, you can and must include all of the scholarships that your daughter received whether or not you have a 1098-T for them.  You can include expenses & scholarships for any course that started within the first three months of the new year (usually the courses taken for the spring semester).  If you report expenses and scholarships based on the school year (summer, fall, and the following spring) on your tax return each year then you'll get four education credits each based on 1 full year of college.

 

So long as the scholarships in their entirety all covered qualifying expenses (tuition, fees, and books), and so long as your daughter has no withholding to claim a refund of from what income she received, she does not need to file a tax return.

 

If you have any other questions I'll be glad to help.

 

Louis,

Senior Tax Advisor (Tampa, FL)