Crank Posted February 3, 2010 Report Posted February 3, 2010 Client works for a local college where the clients child also attends undergraduate school. The child received a $5,655 tuition credit referred to as "Tuition Remission-Day for Staff" on the account history and included this amount in box 5(scholarships and grants)of the 1098-T. Is this considered a scholarship or grant and is it considered taxable income to the client or child? Client claims they have a paper saying its taxable for "graduate" studies only but I havent seen it. Thanks Quote
kcjenkins Posted February 3, 2010 Report Posted February 3, 2010 Odds are good that it is not taxable, but the school will definitely be able to provide that info in writing. If the client lost it, they can get another copy from the school. Quote
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.