Tax question- tuition and scholarships

[ryskey]

I know, I procrastinated.


Okay, I'm finally claiming myself. I can deduct the tuition I paid from my earned income, which goes under "tuition and fees deduction" (line 27 of the 1040), correct? Then I subtract my scholarship/grant amount from this deduction, right?

Say I paid 6000 in tuition last year. I got 2000 in scholarships. I subtract the 2000 from the 6000, and enter 4000 in the tuition and fees deduction line? Is that right?

Thanks

 

[hornian]

I did turbotax's freeonline thing, it is at www.taxfreedom.com/. I did the full form, not the 1040 (becasue I had some 1099 income) and it had a place for eveything, including scholarships, tuiton, etc. Rally easy, really fast, really intuitive.