Publication 970 indicates that you can include the amount of a Pell grant in your income and then use the entire amount of tuition reported on line 1 of form 1098-T to calculate the American Opportunity Credit. The Pell grant is presumably considered to have paid for room/board or other nonqualified expenses (for AOC purposes). But I have not been able to figure out which line of the 1040 the Pell grant amount would be reported on. Can anyone help me with that detail? Would it go on line 7 as wages or would it go on line 21 as "other income"? Thanks.
Federal Taxes: How to Coordinate Pell Grant with American Opportunity Credit
0 commentaires:
Enregistrer un commentaire