turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

How do I determine what amount of a college scholarship paid for room and board vs. tuition? It is not demarcated on the college invoice.

 
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

2 Replies

How do I determine what amount of a college scholarship paid for room and board vs. tuition? It is not demarcated on the college invoice.

Your 1098-T box 1 minus box 5 is the amount not spent on tuition and would be taxable.

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**

How do I determine what amount of a college scholarship paid for room and board vs. tuition? It is not demarcated on the college invoice.

If your scholarship is not restricted (it must be used for tuition), you get to decide how much of it was used for room & board.  If it was not itemized on the school invoice, the scholarship is, most likely, not restricted. 

You do that to "free up" QEE-Qualified educational expenses (tuition, fees and book expenses) to be claimed for the tuition credit and/or a 529 plan distribution.

 

Scholarships used for QEE are tax free. Scholarships used for room & board are taxable income. However, it is frequently better to pay a little tax (usually little or none) on the scholarship in order to claim the tuition credit.

 

For more specific advise, tell us what you're trying to do and whether you are a dependent.

Unlock tailored help options in your account.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question