A question?
We hold on to my sons mail that comes to the house and last night I found a letter from his school marked "tax information" that inadvertently was tossed in his pile. After reading it, I may have screwed up, but I'm not sure in what direction.
My taxes are in, and my wife and daughters have taken care of the spoils. My question is if the IRS considers scholarship money income if I'm claiming my son as a dependent. The form indicated a total school costs, the scholarship amount, and the out of pocket costs. Can someone give a poor guy who despises taxes to begin with a simplified answer.
I went to some IRS sites to try to find the answer and basically could only find something called the taxpayers releive act, lifetime learning credit, and hope scholarship credit.
I have a feeling the guy who (use to) does my taxes "cheap" is in the same gene pool as myself and I may be filing ammendments soon.
I hate the feeling of stupidity that costed me 8 hours of sleep last night.
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