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An institution may choose to report either payments received (box 1) or amounts billed (box 2) for qualified education expenses. Books and fees are deductible and will be addressed in the TT interview, but scholarship amounts spent on room & board and meals will be taxable. If you have questions about the reporting on 1098-T, contact your school.
It may also benefit you to choose to include otherwise tax-free scholarships or fellowship grants in income. This may increase your education credit and lower your total tax or increase your refund.
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