Hal_Al
Level 15

Education

There is no educational tax benefit for Room and board (R&B). R&B are not  qualified expenses for a tuition credit or for tax free scholarship.  As such, there is usually no R&B entry box at the educational expenses screen, in TurboTax (TT).

 

There is an exception. R&B are qualified expenses for a Qualified Tuition Plan (QTP) ( 529  or ESA) distribution. TT will give you an entry point for R&B, but you must have previously entered your 1099-Q* for the QTP distribution (enter your 1099-Q before you enter your 1098-T).  To get the screen to enter Room & Board, answer yes when asked if you have book expenses, in the educational expenses (1098-T) section. 

 

*The 529 plan will issue an IRS required form 1099-Q for any distributions made from the plan during the year. The 1099-Q will be issue in January or early February in the following year.