1098-T Box 1

Forum|Forum|5 years ago
March 11, 2021
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Box 1 of the 1098-T is for "Payments made for tuition and related expenses."

The university actually received payments from us of $20,437 (and gave us a statement with that amount), but that would include room and board.

Are room and board "related expenses?"

Should I enter in Box 1 the total amount the university received from us or just the part that is for tuition (and related expenses whatever they are)?

Hal_Al

Employee

Q. Are room and board "related expenses?"

A. No. More accurately R&B are not "qualified educational expenses"

Q. Should I enter in Box 1 the total amount the university received from us or just the part that is for tuition (and related expenses whatever they are)?

A. You should enter the 1098-T, exactly as received. Later questions, in the TT education interview allow you to enter other expenses.

Only tuition, fees, books and other required course materials a qualified educational expenses for the tuition credits, deduction or tax free scholarships. Only tuition and fees are to shown in box 1 of the 1098-T.

Although room & board are not qualified expenses for most education tax benefits, they do qualify for a 529/ESA distribution. There is a place in the TT interview to enter R&B.