I'm filling out on my tax return.
2007-02-10 10:17:14 · 5 answers · asked by Anonymous in Business & Finance ➔ Taxes ➔ United States
No, you'd have to subtract the value of the scholarship from your total tuition and fees - you could then take a credit for anything left over. Since the scholarship money wasn't taxed, you can't then deduct the expenses paid with it, or take an education credit for it. Deductions and credits are for specific items that you paid with after-tax dollars.
2007-02-10 15:18:17 · answer #1 · answered by Anonymous · 0⤊ 1⤋
No, you'd have to subtract the value of the scholarship from your total tuition and fees - you could then take a credit for anything left over. Since the scholarship money wasn't taxed, you can't then deduct the expenses paid with it, or take an education credit for it. Deductions and credits are for specific items that you paid with after-tax dollars.
2007-02-10 10:40:01 · answer #2 · answered by Judy 7 · 2⤊ 0⤋
the way you pay to your training is exceeded over! You declare it on the section for training deduction/credit for training and appropriate academic expenditures minus any scholarships which you gained.
2016-10-01 22:36:01 · answer #3 · answered by ? 4 · 0⤊ 0⤋
Some scholarships are taxable and some are not. You have to find out about that. Expenses are expenses, no matter what.
But you may or may not have to show your scholarship as income.
2007-02-10 10:46:21 · answer #4 · answered by kenneth h 6 · 0⤊ 1⤋
If you think you can - your not even smart enough to be in college.
2007-02-10 10:21:37 · answer #5 · answered by John W 3 · 1⤊ 3⤋