Education

What does SCH 3935 on line 1 mean?

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Education

If it is on line 1 of your 1040 it is scholarship income.

Education

It means the amount on line includes $3935 of taxable scholarship.

TurboTax calculated this, based on your input in the education expenses section. It frequently is no more than the amount that box 5 of the 1098-T exceeds box 1 by.

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