EZN
Level 1
03-05-2020
02:22 AM
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Box 1 does not include room and board but box 5 can. Some colleges are providing reconciliations/ explanations for the numbers on the 1098. You need to play with the payments the taxpayers made to see the best outcome. You have to decide who paid for what, to minimize income from room and board scholarships and maximize the tax credits.