MayaD
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Get your taxes done using TurboTax

If your grant/scholarship amount (box 5) is more than your tuition (box 1/box 2) you need to report form 1098T because excess scholarship money may be treated as taxable income on your return.

 

If your scholarship covers tuition as well as room and board, the amount spent on room and board is considered taxable.

Qualified education expenses include tuition and other expenses that are necessary for you in order to enroll in a course or program. Transportation costs or room and board, are not included.

 

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