Hello!
Box5 - Box1 amount is taxable. Which means that the part of the scholarships paid is excess of tuition amount.
I thought that this difference covered Room and Board.
But to make sure that everything is right I wrote the letter to University asking to give me Room and Board spending report, and the given numbers surprised me. This invoice is $3,000 less then the difference between Box 1 and Box 5.
Now I am confused - there are only two types of payments in 1098-T - one is for tuition and another for the living in in the residence. But what to do with $3000 which I cannot relate to either one.
