Form 1098-T and FAFSA Grants Question

swimcatsmom
Wed, 26 Jan 2011 00:45:00 +0000

Something does not add up. The grants and scholarships on the 1098 should be equal to the total grants and scholarships you received in the 2010 calendar year, not what you will be receiving for the school year. Are you a sophomore or beyond? What were your grants and scholarships for the whole 2010 year? Spring, Summer, and fall.

Grants and scholarships used to pay for unqualified expenses (anything other than tuition, fees and required books) are taxable income to you. You need to check the 1098 against your own records. remember some qualified expenses, such as required books, may not be included on the 1098.