in Education
My son is in graduate school and is filing single non dependent. He received the 1098-T showing the
scholarships and grants he received (box 1 and 5 match) that is used for tuition, etc. He also receives a stipend to cover room/board (living expenses) which is not reported on any form (not on w2, etc). We use the last deposit statement to gather the end of year amount provided for the stipend. Trying to find the correct way to enter this in TurboTax Deluxe but keep striking out. I can enter the 1098-T on "Deductiona and Credits" but cannot successfully add the stipend as income, have tried via "Less Common Income" but to no avail, Turbotax keeps wiping it out. I do not see a place to explicitly enter a payment that was not used for tuition.
What is the correct procedure to follow to enter the 1098-T and a non w2 stipend from the university in TurboTax deluxe?.
Thank you
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Less common Income should work.
Click Federal
Click Wages and Income
Scroll to the bottom and click Show more under “Less Common Income”
(you may need to answer Yes/No questions and/or click “All income” first)
Scroll to the bottom “Miscellaneous Income, 1099-A, 1099-C" and click Start
Scroll to the last choice “Other reportable income” and click Start
Enter “school stipend" as the description and the amount and Continue
Click Done on the next page
This puts the income on Schedule 1 line 8 and flows to your 1040 line 7a
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