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Sat, Feb 11, 06 at 19:52
| I just prepared my returns but because this is the 1st year of college for my daughter, I'm a little confused. We received a 1098-T from the college with qualified tuition billed for 6046, she also received a VA guaranteed assistance credit of 1425, that is listed on this same form as a scholarship/grant. My question is how do i know whether that is tax free or not? The way the software directed me to list it was to deduct the 1425 from 6046 and list the difference as the tuition deduction. When i printed my returns it has the 1425 listed in line 7(wages, salaries) as income, does that sound right?
Thanks in advance!!!! |
Follow-Up Postings:
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| Call the IRS, they'll answer any questions you have. |
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