What are you supposed to do with the figure in box 6 "Adjustments to scholarships or grants for a prior year" on a Formm 1098-T?
In this case the figure represents the amount of scholarship that the student received in 2005 but had to return to his school in 2006. Do you deduct it from the scholarship that he received in 2006? Or do you amend his 2005 tax return?
In this case the figure represents the amount of scholarship that the student received in 2005 but had to return to his school in 2006. Do you deduct it from the scholarship that he received in 2006? Or do you amend his 2005 tax return?
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