The only exception to that is when Box 5 exceeds Box 1 - that is taxable income to the student.
Generally, that's true. But after entering the 1098-T as printed, the program will ask you for both, qualified expenses not included in box 1, as well as any educational assistance received not included in box 5.
So while the 1098-T may have more in box 5 than in box 1, when all is "said and done" it's perfectly possible for qualified education expenses to exceed all education assistance received.
Even the opposite is possible to, where box 1 exceeds box 5. But after entering educational assistance not included in box 5, the sutdent has taxable/reportable scholarship/grant income in the end when all is "said and done".
*Life really is simple. The fact we only live for a short time is what makes it seem complicated.*
