Can I deduct for room and board and how? After paying tuition, I used $5400 of my college scholarship and grant money for room and board expenses. My parents claim me.
Can I deduct for room and board and how? After paying tuition, I used $5400 of my college scholarship and grant money for room and board expenses. My parents claim me.
Room & board for college are not considered to be qualified expenses for purposes of the education credits. Also, since your parents are claiming you, they will be the ones who would claim the education credits for you on their tax return. The 1098-T form will need to be reported on your parent's tax return.