DaveF1006
Expert Alumni

Get your taxes done using TurboTax

The room and board amount is not an educational expense you can claim. However, Room and Board amounts can be used to reduce  taxable income from scholarship. It could be that all your expenses may not be enough to offset the scholarship amount listed on Box 5 of your return.

 

When you go through the questions, it will ask you how much you paid for Room and Board as you navigate through that section. if you plan on using the $3000 amount, you would place that here. If you answer truthfully and record a lesser amount, then in all likelihood you may end up having taxable income from the excess scholarship amount.  It will show up to the left of  Box 1 in your Form 1040 as SCH xxxx. Your excess short fall will be $3000 - room and board. Hopefully this answers your questions but post you have additional questions. 

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"