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Level 1
posted Apr 15, 2024 12:16:15 PM

Does a student, age 18, with scholarships and a 1098T, need to file a tax return?

And no other reportable income

0 2 5978
2 Replies
Level 15
Apr 15, 2024 12:25:31 PM

Q. Does a student, age 18, with scholarships and a 1098T, and no other reportable income, need to file a tax return?

A. Only if box 5, of the 1098-T, exceeds box 1 by more than $13,850. 

 

Scholarships that paid for non qualified expenses are taxable. Tuition, fees, books and computers are qualified expenses.  If box 5 of your 1098-T is more than box 1, TurboTax will automatically treat the difference as taxable scholarship income unless you tell it differently (enter additional expenses for books, etc).

Expert Alumni
Apr 15, 2024 12:25:40 PM

Possibly.  If the scholarships exceed tuition, the excess becomes taxable income. 

 

Taxable Scholarships