Skip to main content
February 24, 2021
Question

Education Assistance Counts as Income?

  • February 24, 2021
  • 2 replies
  • 0 views

1098-T box 1 = $60,862  Box 5 = $54,200

TT asks how much did student pay for Room & Board with scholarship?  Where does scholarship money get allocated?  Total expenses were $70,531 and $16,331 paid out of pocket...can all scholarship money go towards tuition (Qualified expense) - allowing me to answer $0 from scholarship to pay other (non-Qualified) expense?

 

 

    2 replies

    elpadreAuthor
    March 6, 2021

    Can I get some help here, please?

    ColeenD3
    March 6, 2021

    Please read this answer from HalAl that discusses this issue.

     

    Scholarship