I am a PhD student who is fully funded, so my tuition is waived and I receive a stipend amount per month that is taxed.
I am doing my taxes through the free TurboTax system. I was set up to get a nice return but when I submitted my 1098-T, my return went from 1.3k to me owing 15k. In box 1 is my full tuition for the year (60k) and in my scholarships box it is a number over this amount (65k). Am I being taxed on this scholarship amount? Why? This money never went into my pockets. Maybe I am filling something out incorrectly? I was on a NIH fellowship for 6 months in 2020 but that was true in 2019 and I didn't have an issue then (just got dinged for underpaying since I didn't do quarterlies).
(I also have the graduate student box checked).
Submitted February 25, 2021 at 06:56AM by bogushoagie https://ift.tt/3qSxUba
