Question
Using scholarships to pay for room and board.
Son is a 3rd year college student that receives scholarships and grants that exceed his qualified educational expenses so we know he has to pay tax on that amount. TurboTax asked a question like "did student use scholarship money to pay for room and board" and I answered yes and gave an amount. At some point a message popped up that read:
"It Turns Out (Student)'s Scholarship or Grant Counts as Income
That's because scholarships and other education assistance are considered taxable income if they exceed (Student)'s education expenses, if the money was used to pay for nonqualified expenses, or if (Student) was not enrolled in a degree, certificate or credential program at an eligible school. (Student) will need to file a tax return to include this $X,xxx amount as taxable income."
But the amount given does not look right to me.
How can I get back to the window that asked if the student paid for room/board with scholarship money?
I have used the "back" feature numerous times but have not been able to get back to that question.
Any help?
"It Turns Out (Student)'s Scholarship or Grant Counts as Income
That's because scholarships and other education assistance are considered taxable income if they exceed (Student)'s education expenses, if the money was used to pay for nonqualified expenses, or if (Student) was not enrolled in a degree, certificate or credential program at an eligible school. (Student) will need to file a tax return to include this $X,xxx amount as taxable income."
But the amount given does not look right to me.
How can I get back to the window that asked if the student paid for room/board with scholarship money?
I have used the "back" feature numerous times but have not been able to get back to that question.
Any help?
