- quote -

I've received both the disk and Volume 2. Maybe it's time
for you to check at the source?

Kate Botella, EA in PA

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MTW <mtwingcpa[at]yahoo.com> wrote:

- quote -

Memo to file: Both items were received on February 21st.

MTW

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MTW wrote:
- quote -

After all, forms are all in my tax software, and also hard
copies in pub X. So when I need an updated version of a
publication (and don't need a new one of everyone every
year), I'll simply download from the web.

Cheer$,
Harlan Lunsford

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- quote -

Yesterday was 2/20, the 51st day of a 106 day tax season,
so..... you are due a rebate of 51/106 of 22$.

Just "due" ; no promise. lol

Cheer$,
Harlan Lunsford
(waiting with bated breath)

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- quote -

Harlan, I just received my first disk yesterday!

Kate Botella, EA in PA

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Harlan Lunsford <lunstax[at]bellsouth.net> wrote:

- quote -

I just read that shipment of the CD allegedly began on
February 10th. I haven't received mine yet. Haven't received
Vol 2 of Package X, either.

I'm under the impression that the IRS has been hiring "low
bidders" to furnish these products and this is the result.
Maybe next year they'll hire Halliburton! <g
MTW

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Sassy Baskets wrote:
- quote -

Excellent research, Sassy! I had to download the pub 970
from IRS since they have NOT YET sent my CD ROM disk with
everything on it. I'm going to carefully think next year
before plunking down another 22$ for that disk.

Cheer$,
Harlan Lunsford, EA n LA

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- quote -

Thanks for the correction. However, you left out the fact
that to apply the scholarship first to room and board you
must also include it in income, per the example you cite.

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philmarti[at]aol.com (Phil Marti) wrote:
- quote -

According to Example 2 on page 10 of Publication 970,
you can.

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"A.G. Kalman" <glendale202-mtm[at]yahoo.com> wrote:
- quote -

Ah, yes. Thank you for reminding me, too.

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Sassy Baskets wrote:
[snip}

- quote -

I always remind parents that the amount on the 1098-T
represents tuition and some student fees. It does not
include amounts spent on other items that a scholarship
grant may be applied to tax-free. These would include just
about all the course-related expenses: required books,
supplies, and equipment and lab fees.

--
Alan
http://taxtopics.net

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"Michelle Kapp" <smfwdf[at]comcast.net> wrote:

- quote -

Yes you can, however if you do this the full $6500 becomes
taxable income to the student. This may be beneficial if
the education credit is more than the tax on that $5000 (or
if you're taking a tuition & fees deduction and the student
is your dependent).

- quote -

The $1500 of scholarship/grant in excess of tuition & fees
is probably taxable income to the student.

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"Michelle Kapp" <smfwdf[at]comcast.net> writes:

- quote -

No.

- quote -

No.

See Publication 970.

Phil Marti
Topeka, KS

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1098-T Box 2 Tuition and Fees = $5000.
Box 4 Scholarship and Grant = $6500.

Nondeductible room and board = $6500.

Can we apply the scholarship and grants to the room and
board first and still get the tax benefit of all the tuition
payments of $5000?

If not, is there any problem with Box 4 being more than Box 2?

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