I need to confirm the handling of Room & Board on a tax return. The following expenses were reported on the 1098T: box 1 is $29,145 and box 5 is $31,517. The total expenses were $37, 267.50 and the parents paid the $5,750 balance. Can I use the $5,750 as the room and board amount? Is it ok to reallocate the money in this manner to increase the credit? I am confused that the American Opportunity Credit is higher when the room and board is higher. There is no issue with this sum being taxable because the return is still a zero liability
