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Education
Room and Board (R&B) are not qualified education expenses for a tuition credit (or the old tuition & fees deduction), tax free scholarship or the US Savings Bond interest exclusion.
R&B are qualified expenses for a tax free 529/ESA/QTP plan distribution. Off campus R&B is limited to the lesser of actual cost or the school's "allowance for attendance" (basically what on campus students pay).
‎April 6, 2022
8:35 AM