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X-post: College Scholarships and taxes


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(I put this on the college board, but thought I'd ask here as well)


I *think* TurboTax is misleading me, so I just want to be sure on something . . . . .


DD20 received 24K in scholarships/grants. Her total eligible education expenses (as billed by the uni) are 24,800.


The 24K are considered tax-exempt, right? I think I put my figures in the wrong box on Turbo. . . . it wants to tell me that it's considered income. BUT - that's only if the scholarships/grants EXCEED her allowable expenses, yes?


Next year I'm just hiring an accountant. Between 4 small businesses and dd's college stuff, I am just DONE with this.

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