In order to get an accurate outcome, you should enter the information in the TurboTax program and let the program do the arithmetic. The taxable amount of the scholarship will be reported as wages ( shown as "SCH" ) on line 1 on your Form 1040.
To enter your Form 1098-T, here are the steps in TurboTax online:
- Sign in to your account, select Pick up where you left off
- At the right upper corner, in the search box, type in "1098t" and Enter
- Select Jump to 1098t
- On the screen, Now Let's gather XYZ's Additional Education Expenses
- Follow prompts
- Next screen, Your Education Expenses Summary, select Edit
- Next screen Here's Your Education Summary, under Tuition, select Edit to enter tuition information
To enter Form 1099-Q, here are the steps:
- Sign in to your account and select Pick up where you left off
- At the right upper corner, in the search box, type in 1099q and Enter
- Select Jump to 1099q
- Follow prompts
I am also attaching a post from superuser Hal-Al for your information: 1099Q/1098T
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