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hallao
New Member

Are box 1 and 5 on 1098t the same? I have two different amounts. Do I add them together for scholarships/grants/fellowships box? Or do I put just box 5 or box1?

 
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3 Replies

Are box 1 and 5 on 1098t the same? I have two different amounts. Do I add them together for scholarships/grants/fellowships box? Or do I put just box 5 or box1?

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. 

W12lcome
New Member

Are box 1 and 5 on 1098t the same? I have two different amounts. Do I add them together for scholarships/grants/fellowships box? Or do I put just box 5 or box1?

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,

ThomasM125
Expert Alumni

Are box 1 and 5 on 1098t the same? I have two different amounts. Do I add them together for scholarships/grants/fellowships box? Or do I put just box 5 or box1?

@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.

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