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    ajuboy79's Avatar
    ajuboy79 Posts: 11, Reputation: 1
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    #1

    Mar 18, 2009, 10:12 AM
    1098-T doubt
    Hi, I am on H1B (resident for tax purpose) and my wife on F1 (non resident). We have decided to file jointly. She has received a 1098 T which has $850 in box2, $500 in box5 (scholarship) and also box7 is checked and says "Checked if the amount in box 1 or 2 includes ampunt for an academic period beginning Jan-Mar 2009.

    Does this mean we can deduct $500 or $(850 minus 500) from our total income?

    THanks a lot
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
    		  
    #2

    May 11, 2009, 11:18 AM
    The deduction will be $350 is you claim an education deduction. You may find it is better to claim one of the education credits, be it Hope or Lifetime Learning.
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