Question
How is scholarship repayment entered in Proconnect?
My client attended college courses paid for by their employer. The agreement is that the employee will have to repay the fees if they do not complete a contracted period with the employer. Client received 2024 1098-T with tuition in box 1 and the amount paid by the employer as a scholarship in box 5.
The client will be leaving the employer in 2025 and will have to re-pay the scholarship. How should this be reported in the 2025 tax year?
Thanks in advance.
