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Education
The cost of room and board is not an allowable tax deduction, accept as it pertains to reducing the taxable amount of earnings on a college savings plan. If you withdraw money form a tax advantaged college savings plan, you need to spend the distribution from the plan on education expenses or the earnings will be taxable. You can include room and board for education expenses for that, but otherwise they are not deductible or available for an education credit. You would enter your room and board, if needed, when you enter your Form 1098-T in the Deductions and Credits section of TurboTax, then Education, then Expenses and Scholarships (Form 1098-T).
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‎February 24, 2025
6:39 PM