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Education Assistance Counts as Income?

1098-T box 1 = $60,862  Box 5 = $54,200

TT asks how much did student pay for Room & Board with scholarship?  Where does scholarship money get allocated?  Total expenses were $70,531 and $16,331 paid out of pocket...can all scholarship money go towards tuition (Qualified expense) - allowing me to answer $0 from scholarship to pay other (non-Qualified) expense?

 

 

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2 Replies

Education Assistance Counts as Income?

Can I get some help here, please?

ColeenD3
Expert Alumni

Education Assistance Counts as Income?

Please read this answer from HalAl that discusses this issue.

 

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