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therealzybria
New Member

Education

What does SCH 3935 on line 1 mean?

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‎February 11, 2021 8:31 AM
last updated ‎February 11, 2021 8:31 AM
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2 Replies
Bsch4477
Level 15
Level 15

Education

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

‎February 11, 2021 8:34 AM
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Hal_Al
Level 15
Level 15

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. 

‎February 11, 2021 9:08 AM
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