My daughter had Florida Pre-Paid. Additionally, she got other scholarships. They money that she has received is greater than her costs. Is this ocnsidered taxable income?

[Vanessa · Accepted solution]

Yes, the amount of grants and scholarships greater than qualified education expenses or used for room and board is considered taxable income.

She will need to enter the 1098-T on her return instead of entering it on your return.