Is it right that a portion of my grants/schoalrships on my 1098-T is income that I did not receive in a refund? Should this be considered income?

Forum|Forum|3 years ago
March 6, 2023
2 replies
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I have a full-ride scholarship as well as receive the Federal Pell grant. However, I do not receive any refund. The amount that is being claimed as extra income I believe I put as room and board as if I received a refund for it, but I did not receive any of this and I don't think it should be taxed?

TurboTax Deluxe Online

KrisD15

Yes, it is taxable income.

Depending on what that amount is and your other income, it may or may not generate a tax liability (tax due)

Scholarship used to pay for Tuition, Book and school supplies are taxable-free.

Scholarship used to pay for Room and Board is taxable

(1099-Q which reports 529 distributions are tax-free when used for room and board)

Pub 970

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Hal_Al

Employee

Q. Is it right that a portion of my grants/scholarships on my 1098-T is income that I did not receive in a refund? Should this be considered income?

A. Yes.

Scholarships that pay for "Qualified Educational Expenses" (QEE) is tax free. Any excess scholarships is taxable income. In particular, room and board are not QEE.. In TurboTax, be sure to enter all your QEE, including the purchase of a computer.