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My school gave me a room and board scholarship and included it in box five on my 1098-T, I do not get that money as it is automatically paid to the school; however, the amount was not reflected in box 1 on the 1098-T. This makes it look as if I received more money in scholarships than I had paid which is not the case since I still had to come out of pocket to cover all costs. How do I reflect this on my deductions since there is no option for me to add room and board cost?
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After entering your 1098-T, Continue to a screen asking if you paid for Room and Board with a Scholarship or Grant (screenshot).
You will be able to enter the amount of your Scholarships that was used for Room and Board.
[Edited 04/01/2020 | 5:06 PM]
But scholarships that pay for R&B is taxable income to you. You may want to apply some of the box 5 amount to box 1. On the other hand, you want enough qualified expenses to claim a credit or deduction.
But, if you provide the following info, we ca give you more specific advice:
How much is in box 1 of the 1098-T?
How much is in box 5 of the 1098-T?
How much book and other qualified expenses (not R&B), not shown in box 1, do you have?
Are you your parent's dependent?
Are you a full time, or half time or more, undergrad?
What is your age?
Do you have earned income and is it more than half your support?
My school gave me a room and board scholarship and included it in box five on my 1098-T, I do not get that money as it is automatically paid to the school; however, the amount was not reflected in box 1 on the 1098-T. This makes it look as if I received more money in scholarships than I had paid which is not the case since I still had to come out of pocket to cover all costs. How do I reflect this on my deductions since there is no option for me to add room and board cost?
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