I have a question regarding how much of room and board was used from Box 5. If box 1 indicates 29,000 and box 5 indicates 31,000, can I safely report 2,000 for room and board? The actual expenses for the semester were 37,000 and I am unsure how to allocate room and board. The actual room and board for the semester was 7,942 and I understand that is taxable for the student. I am trying to determine if the taxable amount is 2,000 or 7,942.
