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Level 2
October 3, 2019
Question

College

  • October 3, 2019
  • 1 reply
  • 10 views

My daughter was a freshman in college last year and was awarded a scholorship that covered 90% of her tuition. Why is it saying that her scholorship counts as income and she needs to fil out a W2 and report 14,000 as taxable income. This is confusing. The scholorship paid for room and board, books, and other fees. My out of pocket expense was her meal plan. 

    1 reply

    DoninGA
    Level 15
    Level 15
    October 3, 2019

    See this TurboTax support FAQ for information on why scholarships may be taxable income - https://ttlc.intuit.com/community/college-and-education/help/why-is-my-scholarship-taxable/01/26267

    rfbosemanAuthor
    Level 2
    October 3, 2019

    So, how does this work? How can this be written off? I've got friends who's kid got the same amount and they did not have to complete a W2 for the child and it was not counted as income for them.

    DoninGA
    Level 15
    Level 15
    October 3, 2019