Room & Board Stipend

2 replies
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I know a stipend for room and board is taxable but this lump sum was paid in one year (2025) and the letter from the university clearly says it is intended to cover 3 semesters / 2 calendar years. There is a question in TurboTax asking if funds were received for more than 1 year (yes), but I am not sure if this question only relates to money received for "qualified educational expenses" or whether it is applicable to any cost associated with attendace (including room and board). It would obviously be helpful if this lump sum coud be split into 2 calendar years, but I am not sure if that is allowed. Any assistance would be appreciated!

Scholarships

Hal_AlAnswer

Level 15

Q. There is a question in TurboTax asking if funds were received for more than 1 year (yes). Does this question only relate to money received for "qualified educational expenses"?

A. Yes.

Any taxable income, including the stipend, is reportable, on your tax return, in the year received. You may not spread it out over a two year period, even though it is "for" those two years.

Hal_Al

Answer

Level 15

Q. There is a question in TurboTax asking if funds were received for more than 1 year (yes). Does this question only relate to money received for "qualified educational expenses"?

A. Yes.

Any taxable income, including the stipend, is reportable, on your tax return, in the year received. You may not spread it out over a two year period, even though it is "for" those two years.