I was told my return has to be amended there is discrepancy in line 7 which is 48995 and sum of all W-2 which is 47508.76 discrepancy is1487 does it have to be amended?

[DoninGA]

Who told you it needed to be amended?
Are there any codes shown to the left of Line 7, such as SCH, HSH, DCB, etc.?
Or did you receive a Form 1099-R with a code of 3 in box 7 for disability and you were under the age for retirement?

[alekseypadunin]

I am applying for down payment assistance grant, they said it. Line ends with SCH 1486 , which in the actual discrepancy in question. No I didn't receive the form. I am not disabled.

[DoninGA]

SCH stands for taxable scholarship income.  The number shown is the amount of taxable scholarship income included in Line 7.  In this case $1,486.
See this TurboTax support FAQ for taxable scholarships - <a rel="nofollow" target="_blank" href="https://ttlc.intuit.com/questions/2172062-why-is-my-scholarship-taxable">https://ttlc.intuit.com/que...>
See this TurboTax support FAQ for Line 7 - <a rel="nofollow" target="_blank" href="https://ttlc.intuit.com/questions/1901084-line-7-wages-salaries-tips-etc-on-my-1040-doesn-t-match-my...>

[DoninGA]

Additionally, your tax return does NOT need to be amended because of the Line 7 amount.  The tax return was properly completed when filed with the IRS.

[DoninGA · Accepted solution]

Go to IRS Form 1040 instructions for Line 7, page 22 - https://www.irs.gov/pub/irs-pdf/i1040gi.pdf#page=22

Scholarship and fellowship grants not reported on Form W-2. Also, enter “SCH” and the amount on the dotted line next to line 7. However, if you were a degree candidate, include on line 7 only the amounts you used for expenses other than tuition and course-related expenses. For example, amounts used for room, board, and travel must be reported on line 7.