How much of Box 5 on 1098T is already reported?

[bkondiles]

In 2019 I was a grad student who spent half the year paid by a fellowship that was not taxed (and is thus not reported on my W2), and the other half with a taxed paycheck. Thus, my W2 reflects half of what I earned/half of what my school processed for me.

My 1098T reports values in Box 1 and Box 5; the amount in Box 5 is greater than Box 1.

Turbot tax is now prompting me to enter how much of the amount in box 5 was already reported on my W2. How do I discern this? Is the amount on my W2 included in the value in box 5?

Thank you much!

[MaryK4]

Yes, you want to enter the amount from your W2 so you are not taxed on it for scholarship income.

[Hal_Al]

You discern it through your own records.  You know how much is on your W-2. You say that's half of what your received.  Does the amount in box 5 look like the other half? It's highly unlikely that box 5 includes the W-2 (almost nil).

[bkondiles]

Thank you very much. I learned that my confusion likely comes from the way this grant is handled/reported. So now I know the answer to Turbotax's question "how much of this income was reported on a W2?" is zero, and the amount in box 5 represents the tuition waiver (from box1) + my stipend. 

I was advised to ensure the amount on the 1040 for my income reflects box 5 - box 1, but I'm struggling to enter this appropriately with the Turbotax interface.

If you can provide any additional assistance, I'd appreciate it!

Thanks so much for the help.

[Hal_Al · Accepted solution]

"I was advised to ensure the amount on the 1040 for my income reflects box 5 - box 1, but I'm struggling to enter this appropriately with the Turbotax interface".

Enter your 1098-t, at the 1098-T screen, with the box 5 and box 1 amounts.  Then just don't enter any other numbers.  TutboTax will add the difference to line 1 (w here W-2 wages also go)of form 1040, with the notation SCH and the amount

[bkondiles]

Thanks so much. My school tax office had said Turbotax (specifically) handled the 1098T oddly and I would need to figure out how to enter it all appropriately, but you're correct. I actually checked my tax return as Turbotax prepared it and it came out correctly. 

Thanks again!