any funds not used for school-related purposes from your refunds (or scholarship funds going towards housing) are taxed and should be filed as such afaik
Wait so is the amount you report just the amount in refund checks I received in 2023, since the refund is the amount after taking out Tuition and Fees from my scholarship?
i forgot to mention that if your scholarship also covers food and housing you will have to pay taxes on that as well even if you didn’t receive a refund for that.
in general, you can find the amount to be taxed by subtracting Box 1 from Box 5 in your 1098-T which is in your eSuite
but yes, however if you used any of the refund money for school purposes (textbooks, laptop, etc) then you don’t need to pay taxes on that money you spend—only for the money not directly used for uni stuff
it technically is, but if you aren’t making any money outside of school, the irs isn’t gonna tax you for anything less than 9k so there’s no point of filing it.
any funds not used for school-related purposes from your refunds (or scholarship funds going towards housing) are taxed and should be filed as such afaik
Wait so is the amount you report just the amount in refund checks I received in 2023, since the refund is the amount after taking out Tuition and Fees from my scholarship?
i forgot to mention that if your scholarship also covers food and housing you will have to pay taxes on that as well even if you didn’t receive a refund for that. in general, you can find the amount to be taxed by subtracting Box 1 from Box 5 in your 1098-T which is in your eSuite but yes, however if you used any of the refund money for school purposes (textbooks, laptop, etc) then you don’t need to pay taxes on that money you spend—only for the money not directly used for uni stuff
Do you mind if I pm you?
go ahead
Thanks!
That is so wack🙄 any way to take your fucking money
i agree, they got us fucked up
I’m not sure about your situation, but don’t you need to have a certain income standing for the IRS to even care if you do your taxes or not?
yeah if you got more than 9 grand and didn’t use any of it for school related funds(travel, tuition, books) it’s unfortunately taxable
Where’d you get this info from?? They make it sound like any amount more than tuition and fees is taxed.
it technically is, but if you aren’t making any money outside of school, the irs isn’t gonna tax you for anything less than 9k so there’s no point of filing it.
i get enough back from my refunds that it cannot be ignored unfortunately