turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Our Community is moving to a new platform on June 8th! Read more here!!
Close icon
Do you have a TurboTax Online account?

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

I know scholarship "income" is taxable, but do I include room and board cost anywhere? Room and board aren't qualified even if it went straight to my school?

 
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
MinhT1
Expert Alumni

I know scholarship "income" is taxable, but do I include room and board cost anywhere? Room and board aren't qualified even if it went straight to my school?

Scholarship in excess of tuition is taxable.

 

You can use your scholarship to pay for room and board, but you cannot deduct room and board from taxable scholarship.

 

Please note that you can use room and board to justify 529 plan distributions.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
Hal_Al
Level 15

I know scholarship "income" is taxable, but do I include room and board cost anywhere? Room and board aren't qualified even if it went straight to my school?

Q. Do I include room and board cost anywhere? 

A. Simple answer: no. As you said, room and board aren't qualified expenses,  even if it went straight to the school.

 

There are two circumstances when TurboTax (TT) allows you do enter R&B expenses: 1. After you have entered a 1099-Q for a non qualified (or partially non qualified) 529 distribution and your need to calculate the taxable portion of the distribution or 2. to designate some of the scholarship as taxable (by declaring it as used for non qualified expenses).

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