The following is regarding taxes in the U.S.A.
I may not be giving enough info here, but see what you can say:
I’ve got a 1098-T in front of me. It tells me an amount X was recieved by the University for my expenses (tuition etc.). It also tells me an amount Y was given to me for “fellowships, traineeships, and stipends.” It also tells me there was a tuition waver given to me in the amount Z.
I also have, from this university, a W-2 telling how much was disbursed to me over the year as my Teaching Assistant stipend. Call this amount W.
I’m trying to figure out what from the 1098-T I need to include as part of my gross income on the 1040.
I take it the figure will be Y minus W. W, of course, will also be added back into my calculation of gross income, so another way of saying what I think is the right thing to do here is: Include the whole amount Y in my gross income, and ignore amount W. But importantly, the amount I will notate “SCH” (as per the 1040’s instruction booklet) will be equal to Y minus W.
I’ll ask my department’s secretary tomorrow whether I’m right to assume that the figure I’ve called Y includes the amount I’ve called W. But meanwhile, on that assumption, does it sound like I’ve got the right idea here?
Any other grad students who’ve faced this set of forms before, and know what to do?
-FrL-