Taxpayer has a scholarship that CAN be used for room and board, but not REQUIRED to be used for that. Can I reduce the scholarship amount used for the credit? (if yes, how is it entered in Proseries)? Is it then considered a TAXABLE scholarship?
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Yes, you can choose to make more of the scholarship taxable in order to increase the credit.
Yes, you can choose to make more of the scholarship taxable in order to increase the credit.
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