retiredatfifty
Recycles dryer sheets
- Joined
- Jun 23, 2011
- Messages
- 81
So our daughter finished her first semester at college. She lives at home and commutes daily.
She receives a tuition-only merit scholarship directly from the University and also a Bright Futures scholarship from the State of Florida. The University scholarship is not refundable to the student for any portions not used. The Florida Bright Futures scholarship money, however, goes to the school first ... then the school puts any leftover money in her bank account each semester.
The 1098-T reflects she received $1339 in scholarship money (we assume this is Bright Futures) for the fall semester and shows $312 as payments received for qualified tuition & expenses. We know the $312 was for miscellaneous fees the University scholarship does not cover. (the rest, a little over $1k was deposited in her bank account)
So my question is about the merit scholarship she has from the University itself. Is this not reported on the 1098-T because it is a non-refundable tuition-only scholarship? I know her tuition was (or would have been) a lot more than $312. Do I need to worry about it when filing taxes.
Thanks in advance for any advice.
She receives a tuition-only merit scholarship directly from the University and also a Bright Futures scholarship from the State of Florida. The University scholarship is not refundable to the student for any portions not used. The Florida Bright Futures scholarship money, however, goes to the school first ... then the school puts any leftover money in her bank account each semester.
The 1098-T reflects she received $1339 in scholarship money (we assume this is Bright Futures) for the fall semester and shows $312 as payments received for qualified tuition & expenses. We know the $312 was for miscellaneous fees the University scholarship does not cover. (the rest, a little over $1k was deposited in her bank account)
So my question is about the merit scholarship she has from the University itself. Is this not reported on the 1098-T because it is a non-refundable tuition-only scholarship? I know her tuition was (or would have been) a lot more than $312. Do I need to worry about it when filing taxes.
Thanks in advance for any advice.