You'll need to sign in or create an account to connect with an expert.
key it EXACTLY as you see it; they are NOT the same thing. do not overthink it!
also, if the student is a dependent of someone else (normally of the parents) AND BOX 1 is greater than BOX 5, then the form goes on that someone else's (the parent's) tax return.
if the student is NOT a dependent of someone else OR BOX 5 is greater than BOX 1, then the form goes on the student's tax return. In many cases the student's income may be low enough that no tax return is required to be filed and that is fine.
Just to clarify - full time student not being claimed by anyone as a dependent this year. Higher amount in box 5 than box 1; what amount should I enter?
Thank you,
@W12Icome You need to enter both numbers, box 1 and box 5. If your scholarship income reported box 5 is more than your payments listed in box 1 you may have taxable income that may increase your income tax. You also need to enter other educational expenses you may have that are not reported on your form 1098-T. You will see questions for this after you enter your 1098-T form in TurboTax.
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
cabg
New Member
SoCalRetiree
New Member
Patwilson3134
Level 1
mssweetemotions
Level 1
ph00756-
New Member
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.