Determining Taxable scholarship

Can I determine what part of the scholarship is taxable from the 1098T? My son got a full scholarship that also pays for meals and room and board. Box 5 is about half less than Box 1. If I subtracted box 5 from box 1 does that tell me what was spent on taxable things?

posted

From your description, if box 5 is less than box 1, the form may be incorrect. If your son received a full scholarship that includes Room and Board, part of the scholarship will be taxable. Generally, only the portion the is used to pay for tuition and required fees, books, supplies and equipment.is tax exempt.

Taxes for Grads: Do Scholarships Count as Taxable Income?

Why is my scholarship taxable?

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