1098-T / AOC Tax Credit Questions

<p>dmh, what did you spend money on out of pocket? You need to use real numbers, not the COA estimate that you “might” spend $X on travel or $Y on personal expenses. </p>

<p>You can’t figure COA - scholarships = out of pocket, because you might have spent more or less than the projected amount.</p>

<p>If you DID spend money on something like travel, then you <em>might</em> be able to apply part of your D’s scholarship toward that IF THE SCHOLARSHIP ALLOWS IT. This is probably only true if the scholarship was paid directly to you, and you sent (some or all of) the money to the school. If the scholarship was school-based, or from an outside organization but sent directly to school, it is probably only intended to be used toward direct-billed expenses. If the scholarship is intended to be used toward direct-billed expenses, you can’t allocate it toward things like travel and personal expenses to get the tax credit.</p>