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k-lizrandolph
March 14, 2023
Question

I have paid out of pocket for my tuition for grad school. I was able to receive scholarships as well to pay for tuition, so why is it being taxed.

  • March 14, 2023
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1 reply

MichaelG81
MichaelG81
March 14, 2023

It depends, If Box 5 on your 1098T is more than Box 1 tuition, plus qualified educational expenses later in the interview after entering 1098T; it could become taxable income. Scholarship money in excess of tuition and qualified expenses is taxable. Remember, room and board aren't qualified expenses for scholarship money. But making it not taxable, too, may lose your ability to claim a credit on your tax return.

@k-lizrandolph 

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