Student Tax Questions (1098-T and work/study)

HELLO. In 2020 I did a work/study program for school and I got a W-2 for it. Is that… included on my 1098-T? here’s a screenshot from TurboTax asking me about it.

I have no idea but I want you to be acknowledged. I think @JRA64 is doing a tax course and someone already did one. Should I randomly pick a name and tag someone?

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Taking the question at face value, I’d look at how the values on the forms compare to the funds that you received. Presumably everything on the W2, less the deductions, was deposited in your checking account and matches what’s on your paystub. All of the funds reported on the 1098-T also landed in your account or were credited to the university on your behalf, and you have paperwork of some sort showing those funds coming to you and ideally that matches what’s on the 1098-T. If you understand what money flowed where I think you’ll have the answer to your question.

IRS Publication 970 has more information. I didn’t read all of it, but a couple of examples mentioned, say you get a scholarship, it requires you to work as a teaching assistant and $1000 of the scholarship is payment for working as a TA. That $1000 would be taxable. So you may also look at the terms of the scholarship.

Here are some other links that may be helpful.

https://ttlc.intuit.com/community/taxes/discussion/does-my-work-study-income-on-my-on-my-w2-count-as-scholarship-awards-fin-aid-as-reflected-by-my/00/40215#:~:text=to%20RSS%20Feed-,Does%20my%20work-study%20income%20on%20my%20on%20my%20w2,from%20your%201098-T%20input.

https://ttlc.intuit.com/community/college-education/discussion/do-wages-from-being-a-student-employee-count-as-a-scholarship-or-grant/00/336824#:~:text=No%2C%20Federal%20Work-Study%20wages,a%20scholarship%20or%20a%20grant.&text=When%20TurboTax%20asks%20"Was%20Any,Tuition%2C%20Box%205%2C%20Scholarships.

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Also, most simply, did you get any other scholarship or grant money? (Not counting student loans). If the work study was your only non-loan aid, it should be safe to assume it’s the scholarship money in box 5.

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Hm, I got other scholarships/grants but they were all through the school (ie the financial aid office/tax office? should already know about them).

Well, yes, but that’s how things get on your 1099t - because the school knows about them. Add up the not-work-study things and see if that matches what’s in box 5.

ETA it probably includes any tuition paid for you even if the money didn’t pass through your actual bank account.

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