Received my 1098-T form for 2022 (I guess used in May 2022) and there’s only $8000 scholarship on there since I paid my tuition in December 2021. Now I have to pay an extra $2000 on tax. Is there any way to show my scholarship goes towards my tuition for the same period / can be deducted from the tuition I paid in late 2021? My school really screwed me up with their tuition payment deadline…Appreciate any advice!

like
Posting as :
works at
You are currently posting as works at

Yes, did you use the full scholarship for tuition? If so that scholarship is not taxable. You don’t have to report the amount of the scholarship as long as you used the scholarship to pay your tuition.

You only report the scholarship if it was used expenses other than tuition/fees. I would discuss it with a personal accountant but if it was me would not report it as income because it was used for tuition and if the IRS decided to request more information you will show them how much your tuition is and explain the situation as to why it was not reported on your 1098-t

like

I think the bigger question how does it affect the American Opportunity Credit or the Lifetime learning credit.

Related Posts

Hello fishes, will be really insightful to understand cost of living in Doha for a single person. Rent + food and other expenses manageable at 8-10k QAR/ month?

like

I decalred FBP, and the amount got deducted from my salary.
Now I can see I am eligible for some amount under FabP. What is it and when will I get it?
What exactly is the funda of it?
Let say I am eligible for x amount in FBP LTA. And some y of x got deducted in a specific month, now that y portion is showing in FBP tab to upload the bill.

What if in case I have LTA bill which is exceeding x amount itself, do I need to raise reimbursement request every month th with same bill?

like

I have an expiring British Airways credit I need to use in January or February. Options are Lisbon, Paris, Rome and Athens. Anyone have thoughts on any of those in the winter/off season?

I'm coming from the US - my flight credit is use-it-or-lose-it so I'm trying not to spend much more than the original credit.

like

The basis of my bitcoin investing thesis

Post Photo
likefunny

What are some good east coast cities to buy an investment property in? For those of you who have done this before, what's better for a first time buyer/investor - commercial or residential?

Based in NYC but looking to buy outside the city. Something that's 400-500k and has good rental potential. Thank you.

like

Has anyone dealt with Peachtree Residential before? They build homes primarily in Atlanta and Charlotte.

like

Rental property managers in ALX

Hi! I am preparing to rent out my condo in Alexandria (off edsall road) in the spring. Anyone have any tips for first time landlords? I’m planning to work with a rental mgmt company that has 3 properties in my complex. They’ll charge 1 month rent for the marketing and 7.9% mgmt fee. I am moving to a lower COLA and don’t mind paying for the mgmt, but I haven’t found a good cash flow calculator to forecast taxes, etc. Any guidance would be appreciated! Thanks.

like

Tether is a giant fraud. How do I short it?

like

How long after you quit before your company removes your access to your FSA card?

like

Is 80k cash + 20k company share a good deal for a junior dev role in the bay area?🙏

like

Which side wins the trade? Justin Jefferson, Aaron Jones and AJ Dillion for Mark Andrews, Derrick Henry, & Alvin Kamara?

like

Is there any good reason LMND went up $33 in one day?

like

Quoted a 30 year mortgage, 5% down for a ~600k home for 4% interest no points.

Profile: 250k salary, 800 credit score

Is this any good??

likefunny

MU & OCLR, stock bowl anyone?

like

So, Partners... What's your spending breakdown like? Curious to see what expenses y'all have. # of yrs as Partner may also help.

Thanks for sharing! Again, just for fun and curiosity.

likehelpfulfunny
like

My partner bought a new truck earlier this month. We’re hoping to joint-purchase our first home next spring. Is there a “best” time to get pre-approved for a mortgage? When should we start the home buying process?

So far we’ve kept our head in the realtor apps to see what the market is doing.

Rent just went up, pressure is on!

like

I forgot to transfer my crypto or withdraw from binance to binance US. Is there a way I can withdraw or transfer now? I think the deadline was until Nov 2020

like

Looking for a panty dropper used car for around 40k. What would you suggest? Considering a wide range of options from x5 to F type

like

What salary would you feel comfortable buying a $100k car? Trying to gauge how bad of a decision that would be…

like

More Posts

How long is it sustainable to talk to someone without meeting in person due to covid? I find myself getting bored because the meeting in person is what determines whether we actually vibe.

like

"There's no whining in baseball!", said very seriously and earnestly ..... to the office dog.

likefunny

Hi.. i was offered A2 level, 19LPA for 4.8 yoe & cloud devops tech stack.
If i have a counter offer 25lpa with better role, will EPAM be open to negotiate? I feel the role & ctc are not on par.

like

Hello! I am working as a system engineer in IT side but really want to change my domain to digital marketing. Heard that, in the BPS side there are many projects involving digital marketing. Is there any way I can shift from IT to BPS?

like

Hello guys,

Anyone here working on SAP Ariba/ SAP Concur?

Need information and help for the same. :)

like

Does EY GDS and EY Global have separate sets of clients or does GDS aide Global in its operations ? I have an SAP offer from GDS but worried if I'll actually get any direct client exposure.

like

Has anyone left their healthcare job for a different career, I'm not sure if this is the right industry for me

Wanted to start a job thread to help our people get referrals and find new opportunities. Post any openings at your job or that you're aware of in the comments!

like
like

Anyone an EA at Citadel? Do you like it?

like

Do partners at top consulting firms have better WLB?
An Associate here contemplating whether all this is worth it.
Thanks!

like

Do you think clubhouse will be a hot in the longer run?

like

Has anyone gone through bcgs experienced hire recruiting?

like

Have someone ever found a date on Fishbowl ? Is Anyone up for a conversation? I'm straight boii.

likefunny

What are UK VCs like in terms of work life balance and culture? Do they provide better learning opportunities vs staying in consulting?

like

Anyone else hate case studies. I understand what they are trying to assess, but I don’t feel they are the best measurement of ones ability to problem solve. I don’t have a solution though, so I’m really just complaining.

like

Anyone have any luck going client side? What are your tips/successes when approaching the transition?

Hi, I'm getting lot of interview calls for SAP SD Consultant but they want someone experienced 2 to 3 years of experience, 1 or 2 implementation done, support or rollout etc, Relevant experience of sap is zero I have, for BFSI industry is 3+ years I've, so what would u suggest??I'm not getting any work, 5 months gap already now in doing SAP course, hana certifications etc,any fresher in SAP, how u made it in SAP? I'll start working anywhere now, in SAP I'm not getting anything, tired

like

Can anyone provide insight into medical affairs? Would love to learn more about the day to day as a senior consultant

Anyone know the cheapest way to subscribe to WSJ? You could redeem airlines miles in the past for a subscription but they stopped that a while ago I think. Thanks in advance!

like

Additional Posts in SALT - State and Local Tax

Looking for a referral to SALT opening with public accounting firms. Please let me know the organization you can help with. Thank you!

like

Los Angeles Area comp for 2nd year asset management?

Currently making $85k with a 7.5k signing bonus. Wondering if I’m being underpaid in my role. Ive tried probing my colleagues but no dice.

MTC Proposes Removing Online Sales solicitation from 86-272 protection. Thoughts?

like

Looking to save on all taxes as my remote career grows. Any recommendations or where to move / establishment residency? I don't see the advantages of being in California.

like

Anyone who recently started what is starting salary for a new associate in SALT? How does it compare to other lines of services?

like

Anyone works at KPMG MN office in the SALT practice and can let me know how it is?

like

I am on H1-B visa, open to relocate and looking for State & Local Tax (Income/Franchise) Experienced Senior/Manager opportunity. Which companies are currently hiring visa candidates? Appreciate the responses, thank you!

likehelpful

Will states start imposing sales tax on NFTs?

like

Why is it when I owe money to a state from my annual tax filings, if I don’t pay the full amount I get charged interest. But when they owe me, they ask for additional documentation and won’t pay me interest for them stonewalling me. Not much volatility y/y in earnings.

like

I got married in 2021. Before my wedding I lived in State#1 and after the wedding I moved to State#2. My spouse lived in State#2 the entire year.
Can I file as Married Jointly in such a way that State#1 only calculates my income for the portion of the year I lived there?
Or do I need to file Married Seperately?

like

Why did you choose to work in SALT over other areas of tax?

like

My work office is in philly but i wfh in delaware. Why im i paying for both state taxes as well as philly tax. Is that right or do i need to make some adjustments. Im at PwC currently.

likesmart

When a consolidated unitary group acquires a TX Corp, does TX follow Sec. 382 and Sec. 383 and apply a limitation on the utilization of the acquired entity's TX R&D credits following the acquisition?

I was paid a retention bonus last year which I have to return - couple of questions: Will I get a corrected W2 ? If yes, how much time does it generally to generate a corrected W2? Should I wait for corrected W2 to file the return ? (with the current comp - I owe taxes however with the W2C - I will probably not..) thoughts??

like

My 2022 w-2 has states tax paid in California. But I was living in Illinois. I have paid more taxes per my w2. Do I need to file state tax for both IL and CA?

like

Hey Team

I'm on a H1B so I am supposed to pay Medicare and SS taxes, but my employer has not withheld anything- my hnr block advisor caught that but she just completed my returns assuming I don't have to pay those taxes

What is the right protocol in this case? Do I owe SS and fica taxes?

like

Need some help! Currently live in TX but work as an independent contractor (remote) for a NYC based company - do I still need to pay NY state convenience tax on income or would this only apply as a full-time employee?

like

Anyone have recommendations for sales tax CPE > 7 hours?

like

Oct. 15th is almost here. Hang in there!

like

New Jersey partnership question.

Partnerships need to use market sourcing for purposes of calculating NR withholding tax (though NJ doesn't even call this withholding anymore).

However, for purposes of calculating the NJ distributive share of income, you apply Gross Income Tax (personal income tax) rules, which is 3 factor and includes COP.

If I end up with 0% apportionment under GIT and 10% apportionment under CBT (withholding tax), the partnership pays tax upfront but NRs get 100% refund?

like

New to Fishbowl?

Download the Fishbowl app to
unlock all discussions on Fishbowl.
That was just a preview…
Sign Up to see all discussions
  • Discover what it’s like to work at companies from real professionals
  • Get candid advice from people in your field in a safe space
  • Chat and network with other professionals in your field
Sign up in seconds to unlock all discussions on Fishbowl.

Already a user?
Login here

Share

Embed this post

Copy and paste embed code on your site

Preview

Download the
Fishbowl app

See what’s happening in your industry
from the palm of your hand.

A phone with Fishbowl app

Scan your QR code to download
Fishbowl app on your mobile

Download app

Sign up for free to view this conversation on Fishbowl

By continuing you agree to Terms of Use and Privacy Policy

Already have an account? Log in

Sign up for free to continue using Fishbowl

By continuing you agree to Terms of Use(New) and Privacy Policy(New)
Messaging rates may apply

Already have an account? Log in

For account settings, visit Fishbowl on Desktop Browser or

General

Legal