Is a scholarship for tuition taxable? When I input my 1098-T information (tuition money) I suddenly owe money! Why is that happening?

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Is a scholarship for tuition taxable? When I input my 1098-T information (tuition money) I suddenly owe money! Why is that happening?

If Box 5 (scholarships) is larger than Box 1 (tuition) the excess will be taxable income.

Compare the 1098-T to your school account statement to ensure that it is accurate.

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