Room and Board Scholarship

Forum|Forum|6 years ago
April 1, 2020
1 reply
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My school gave me a room and board scholarship and included it in box five on my 1098-T, I do not get that money as it is automatically paid to the school; however, the amount was not reflected in box 1 on the 1098-T. This makes it look as if I received more money in scholarships than I had paid which is not the case since I still had to come out of pocket to cover all costs. How do I reflect this on my deductions since there is no option for me to add room and board cost?

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mglauner

After entering your 1098-T, Continue to a screen asking if you paid for Room and Board with a Scholarship or Grant (screenshot).

You will be able to enter the amount of your Scholarships that was used for Room and Board.

[Edited 04/01/2020 | 5:06 PM]

Hal_Al

Employee

You do NOT want to use that screen "Amounts not awarded for 2019 expenses". That is for when the scholarship paid for expenses in a different year that the 1098-T. Instead, you want to use the screen that comes after that one; "Did (name) pay for room and board (R&B) with scholarship or grant"

But scholarships that pay for R&B is taxable income to you. You may want to apply some of the box 5 amount to box 1. On the other hand, you want enough qualified expenses to claim a credit or deduction.

But, if you provide the following info, we ca give you more specific advice:

How much is in box 1 of the 1098-T?

How much is in box 5 of the 1098-T?

How much book and other qualified expenses (not R&B), not shown in box 1, do you have?

Are you your parent's dependent?

Are you a full time, or half time or more, undergrad?

What is your age?

Do you have earned income and is it more than half your support?