Skip to main content
February 24, 2021
Question

Education expenses

  • February 24, 2021
  • 1 reply
  • 0 views

My son is a senior in college.  The 1098 T I received shows tuition expenses of 39,007.62 and scholarships of 18050.00.  When I enter the numbers in the program I receive a message stating that the scholarships may taxable because they exceed the expenses which is clearly not the case.  Any idea why this is happening? I have gone through the 1098 T entry screen very carefully and have answered all the questions accurately.

1 reply

Hal_Al
Employee
February 24, 2021

When asked if any of the scholarships paid for room and board, answer no.

 

Room and board are "non qualified" expenses for tax free scholarship.  Since box 1 exceeds box 5, by so much, those are the only two numbers that need to be entered (unless you also have a 1099-Q or cashed savings bonds for education)