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February 10, 2020
Question

For my college daughter it asked about books, computer costs and room & board. When I did it for my son it only asked about books and NOT computer and room & board. Why?

  • February 10, 2020
  • 1 reply
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1 reply

February 10, 2020

Did she receive any scholarships?  If so, her scholarship income may be taxable based upon how the funds are used.

 

Scholarships are taxable if used for the following items:

  • Room & board
  • Travel & incidental expenses
  • Any fees, books & supplies not required for classes

 Scholarships are not taxable if used at an eligible school for a degree if used for:

  • Tuition & fees
  • Fees, books, supplies needed for classes
  • Scholarship or fellowship for services from:
  • National Health Services Corps Scholarship Program
  • Armed Forces Health Professions Scholarship & Financial Assistance program
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