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jenniferolms87
New Member

What does SCH 700 mean on the wages section of the return? Also, how is Other income from Schedule 1, line 9 calculated?

 
2 Replies
VolvoGirl
Level 15

What does SCH 700 mean on the wages section of the return? Also, how is Other income from Schedule 1, line 9 calculated?

SCH 700

SCH by 1040 line 1 Wages  is  taxable scholarship income and the amount

 

See FAQ

https://ttlc.intuit.com/community/college-and-education/help/why-is-my-scholarship-taxable/00/26267

 

How 1040 line 1 is calculated

https://ttlc.intuit.com/community/income/help/line-1-on-my-1040-doesn-t-match-my-w-2/00/26011

 

Taxable scholarship is any grant or scholarship amount that exceeds qualified educational expenses (tuition, fees and for undergrads, course materials[books]). Loans are not scholarships and are never taxable.

 

VolvoGirl
Level 15

What does SCH 700 mean on the wages section of the return? Also, how is Other income from Schedule 1, line 9 calculated?

Schedule 1 line 9 is the total of lines 1-8.  You should have Schedule 1 in your tr

https://www.irs.gov/pub/irs-pdf/f1040s1.pdf 

 

Here's an alternate way to print by opening the filed return back up to print at the Print Center, where you can also get the worksheets.

 

Log in and at the Tax Home or in the section Your Tax Returns & Documents for 2020, look for a link Add a State.  Click on Add a State.  (you don't really add one.  That's just to open your return back up.)

 

After the return is open, click in the left menu column on TAX TOOLS, then PRINT CENTER.

Then choose Print, save, view this year's return.

The next screen should offer some options:  Just my tax returns or include government worksheets (optional), or include government and TurboTax worksheets (optional.)

 

 

 

 

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