Thanks for all your posts. Here is my interpretation for some of the items mentioned in all your posts (I may be wrong).
For us, out of the 6 components of the pkg, 4 of them are in 1098-T (Tuition, OK Academic, NMS and Housing scholarship). So only the 1 time text book $2k and Study abroad (which is not eligible for this year) is not there.
So mostly some of you did not get the $625 in 1098-T because you did not submit thru bursar office (we did submit to bursar office). I forgot what my D did for the text book check. May be she directly deposited in the bank (than routing thru bursar office).
It makes sense why your CPA told it is unearned income because student do not have to work to ‘earn’ that money. But still student need to file if their income is above tax filing threshold but it will get parents rate only if it exceeds the kiddie tax amount (mostly it will fall since $2.1k housing + $2k text book $625k NMS will exceed the limit). Though student may end up filing tax, the exemption for the student will be claimed in parents tax return (and not in student tax return).
- How to download the 1098-T from Ozone? Though it displays (and I can take a screen shot), prefer to download but could not see any viable option in the GUI interface of ozone.
- If a student is NMS, is there is any limit to get free tuition in a semester or year? For example, flat rate allows only up to 30 credits for a year. So if a student does 35 credits (18+17) this year, do OU allows all the 35 credits tuition free?
- Did any one used the 'research or study abroad' scholarship of $2k for the tuition of FYRE course? This question may be a moot point if the answer to my q2 is ou does allow free tuition for any number of credits.
Thanks.