Skip to main content
Level 1
October 13, 2020
Question

What is schedule 7497?

On lineOn line #! on my return (in the middle of the page) it says sch 7497. What does that mean?

    2 replies

    Level 15
    October 13, 2020

    Form 4797 on Schedule 1 (Part I, Line 4) of Form 1040?

     

    Did you sell or dispose of any business property (or engage in a similar transaction)?

     

    See https://www.irs.gov/forms-pubs/about-form-4797

    Level 15
    October 13, 2020

    It is next to Line 1 on Form 1040, right?

     

    The "SCH" means "Scholarship".  That is the amount of taxable Scholarships.