Re: bursar-l: 1098-T Box 5 Scholarships and Grants

That how we've always interpreted it.
 
We processed it so we report it. Now, sometimes scholarship checks come
in through lockbox or even through the office but they are not clearly
labeled as such. So, we enter those as regular payments and hence would
not be in Box 5.
 
Loretta
 
Loretta Chrzan-Williams
Director, Student Accounts
Monroe Community College
1000 East Henrietta Road
Rochester, New York 14623
585-292-2288

________________________________

From: bursar-l-bounces@list.mail.virginia.edu
[mailto:bursar-l-bounces@list.mail.virginia.edu] On Behalf Of Foote,
Gail L.
Sent: Tuesday, January 30, 2007 1:10 PM
To: bursar-l@list.mail.virginia.edu
Subject: bursar-l: 1098-T Box 5 Scholarships and Grants

Box 5 instructions state to include the total of all scholarships or
grants administered and processed by the eligible educational
institution. How do other schools interpret "administered and
processed"? At our school, we have been reporting scholarships and
grants that post to the student account but might originate from an
outside source (i.e. Air force or ROTC scholarships and other outside
scholarships such as Knights of Columbus). If these are merely flowing
through the university to the students account, should these be reported
in Box 5?

Any insight is much appreciated! Thank you,

Gail L Foote

Associate Director, Business Office

University of St Thomas

(651) 962-6606

glfoote@stthomas.edu

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Received on Tue Jan 30 15:11:21 2007