Saturday, December 10, 2011

Is the form 1090 from school like a w-2?

I recieved a 1090 form from my school and it says "important tax information" on the envelope. No where on the form itself says that i owe anything and I'm not sure if I should file it or just keep it in my records. all the money for my schooling came from federal and state grants and one school scholarship that went directly toward my tuition. some of this is spent on school supplies (books, misc.) and most of it i'm saving to take courses over the summer. at the community college i attended, i was told that federal grants (such as pell) are not taxable and that i shouldn't worry about filing it, and when i asked H&R Block the same thing last year, they said not to worry about it. this is the first year i have attendeda university and i recieved a 1090, so how do i know if it's a w-2 like form or just another tuition statement? I am clueless and confused and some help would be nice so that I don't get into tax trouble later if i do owe money.

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