David is 19 years old and a full-time college sophomore majoring in physics. The college is an eligible educational institution. He resides on campus during the school year and lives with his parents during the summer. David spent $1,500 on books in 2021.. David's parents provided more than half of his support. David has never been convicted of a felony. David received Form 1098-T as shown on the following page. The Box 5 amount is an unrestricted scholarship. David received no other income in 2021. David and his parents are U.S. citizens with valid Social Security numbers. David and his parents came to the site to have their returns prepared. They want to maximize the tax benefits for the family. click here to see David's 1098-T 5. If his parents optimize use of the American opportunity credit, David will include $7,500 of his scholarship as taxable income. True False CORRECTED FLER'S name, street address, city or town, state or province, country, ZP or 1 Payments received for foreign postal code, and telephone number YUMA COLLEGE 1000 COLLEGE AVENUE YOUR CITY, YOUR STATE, ZIP OMB No. 1545-1574 qualfed tution and related 37-700XXXX 20,000.00 2021 Form 1098-T FILER'S employer identification no STUDENTS TIN 654-00-XXXX 4 Adjustments made for a prior year 6 Scholarships or grants STUDENT'S name DAVID NEWBERRY Street address (including apt. no.) 1234 ROCKMOUNT STREET City or town, state or province, country, and ZIP or foreign postal code YOUR CITY, YOUR STATE, ZIP Service Provider/Acct. No pee instr Form 1098-T 8 Checked if at least half-time student Jeep for your reconds 6 Adjustments to scholarships or grants for a prior year Checked if a graduate student www.irs.gov/Form1098T 25,000.00 7 Checked if the amount in box 1 includes amounts for an academic period beginning January- March 2022 10 Ins. contract reimb/refund Tuition Statement Copy B For Student This is important tax information and is being furnished to the IRS. This form must be used to complete Form 8063 to claim education credits Give it to the tax preparer or use it to prepare the tax retum Department of the Treasury Internal Revenue Service