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How can I know how much my daughter used for room and board the 1098-t only says 5662.00 for scholarships or grants it doesn't brake it down?

room and board for the year was $ 9849.00
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MichaelMc
New Member

How can I know how much my daughter used for room and board the 1098-t only says 5662.00 for scholarships or grants it doesn't brake it down?

Scholarships and grants should be considered applied first to qualified tuition and fees. Any excess, that is used to pay for room and board, travel, or books and supplies, will be considered taxable income.

For more information about taxable scholarships, please read this TurboTax FAQ Why Is My Scholarship Taxable?

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MichaelMc
New Member

How can I know how much my daughter used for room and board the 1098-t only says 5662.00 for scholarships or grants it doesn't brake it down?

Scholarships and grants should be considered applied first to qualified tuition and fees. Any excess, that is used to pay for room and board, travel, or books and supplies, will be considered taxable income.

For more information about taxable scholarships, please read this TurboTax FAQ Why Is My Scholarship Taxable?

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