So I am a junior at my university, and I haven't been incredibly diligent in doing my taxes because I haven't worked a taxable job during the last few years. I decided to file my tuition and scholarships this year on a whim and TurboTax says that I owe over four hundred dollars. I'm feeling overwhelmed, and worried about the last two years that I haven't filed taxes for.
My tuition is around 40k, and the tax form says I received 54k in scholarship money. I personally receive around 2-3k a semester out of the scholarship money. I'm required to live on campus with my scholarship, so ~6.5k goes to that. 4-5 hundred is spent on required fees (technology, postal, gym, environmental) that are unavoidable. Is it possible to report this money (7k) this under 'books and materials required by the university to attend'? Technically the scholarship contract I signed says that it is 100% required for me to live in on-campus housing to attend the university. If I can do this, TurboTax says I owe four dollars instead of four hundred. I go to school in Washington state if that helps.
tldr; My scholarship is being counted as income and I owe $400 dollars to the IRS but I am a struggling student who has no debt but makes poor financial decisions... is there any options for me? edit: spacing
Submitted March 21, 2018 at 05:53AM by ayyougolden http://ift.tt/2IDf4Pw
