1098t?

<p>S went to a summer program last summer and I just received a W-9 in the mail that they said needed to be filled out, otherwise he wouldn't receive a 1098_T for the Hope & Lifetime Learning tax credit.</p>

<p>Well, he was on full scholarship, so I don't think we could deduct anything anyway, even if we met the income guidelines? What is the max?</p>

<p>Scholarships don't have to be declared as income, right?</p>

<p>I’m sorry, I can’t remember offhand what the income guidelines are, perhaps someone else will chime in, or just google it.</p>

<p>Scholarship money above tuition, fees and qualified educational expenses (books and other supplies that were required to take a class) is declared as income for the student and is taxable. So room and board, living expenses, travel, etc. cannot be subtracted from the scholarship amount.</p>

<p>You can’t deduct anything that you didn’t pay anyway, and certainly not non-qualified expenses! It’s very probably that your S could have income tax liability on the excess, as entomom said, so you’ll want to send in the W-9. Just be aware that schools often have the incorrect amounts on the 1098’s since they are operating on an academic, not calendar, year basis for billing and aid. I always have to adjust it by referring back to what the actual billings, awards, and payments were.</p>