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Education
Any income not used on qualified expenses, is taxable.
You said box 1 greater than box 5 with a number in parentheses so I missed the income part.
Let's try with box 5 bigger than box 1. Yes, if the money was not spent on Qualified Education Expenses - Internal Revenue Service, then it becomes taxable income. Good catch and great question!
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March 14, 2025
3:49 PM