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Student2
New Member

MD/PhD student with taxable fellowship and 1098T form. Where do I enter this information?

I have a taxable fellowship and a 1098T form. I tried uploading my 1098T form but it appears it is not being treated as a taxable fellowship. I thus tried entering it as "other income" but then my projected tax jumps a lot (more than other students have paid). Am I entering the information in the wrong place?

Also do I need to distinguish between fellowship and tuition/fees remission money?Both are listed in my 1098 and I read that the first 5000 is not taxable, but the amounts are combined in box 5 of the 1098. Do I need to list them in separate areas? 

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1 Reply
MichaelMc
New Member

MD/PhD student with taxable fellowship and 1098T form. Where do I enter this information?

Please follow these steps to enter information from your 1098-T:

  1. Open (continue) your return in TurboTax, if it's not already open.
  2. In the search box, search for 1098-T or 1098T (lower-case works also) and then click the "Jump to" link in the search results.
  3. Answer Yes to Do you want to enter your higher education expenses?
  • If you land on the Let's estimate how much you could get this year, click Skip this.
  • If you land on the Your Education Expenses Summary screen, first select Edit next to an existing student or select Add a new one before proceeding.
  • Answer any questions that follow. After a few screens, you'll be asked if you received a 1098-T. Answer Yes and click Continue.
  • Enter your Form 1098-T exactly as you see it, even if you think it's wrong. Here are some important tips:
    • If any boxes on your 1098-T are blank, leave them blank. Don't enter 0 (this may cause errors later).
    • If boxes 1 or 2 on your 1098-T form are wrong, enter those amounts anyway. Then click What if this is not what I paid? right below box 2 and enter the correct amount of tuition paid.
    • Don't include grants not already listed in Box 5. We'll ask about those later.
  • Click Continue when you're done entering the information from your 1098-T. Answer any additional questions on the following screens.
  • Your tuition waiver will be tax-free to the extent that it offsets qualified tuition and fees reported in either Box 1 or Box 2. Any amount reported in Box 5 that is in excess of your qualified tuition and fees will be taxable income. TurboTax will transfer that amount to Form 1040, where it will appear with the notation "SCH" beside it.

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