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jh109593-
New Member

Where do I add my college students scholarships on my tax return?

I'm on turbo tax & I can't figure out how to add my son and his scholarships
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2 Replies
HelenC12
Expert Alumni

Where do I add my college students scholarships on my tax return?

If your son's scholarship is reported in Box 5 of your 1098-T form, it'll be accounted for when you enter your 1098-T

 

Otherwise, to enter your son's scholarships in TurboTax and quickly get to that section of TurboTax, type scholarships in the search box and select the Jump to scholarships

 

We'll ask about scholarships, grants, assistance (etc.) towards the end of the Education interview. Look for the screen Did [student name] receive a scholarship or grant in 2020? Select Yes and then enter the amount received in the appropriate field.

 

If you use your scholarship to pay for any of these, it counts as income and the amount paid is taxable:

  • Room and board
  • Travel and incidental expenses
  • Any fees, books, and supplies or equipment that aren't required for your courses

If you're getting a degree at an eligible school, your scholarship is tax-free when used for:

  • Tuition and fees
  • Fees, books, supplies or equipment required for your courses
  • Any scholarship or fellowship for services received under the National Health Services Corps Scholarship Program or the Armed Forces Health Professions Scholarship and Financial Assistance Program.
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Hal_Al
Level 15

Where do I add my college students scholarships on my tax return?

What are you trying to accomplish?

 

Generally, you do not add your student-dependent's scholarships to you tax return.  If any of his scholarship is taxable, it goes on his separate tax return.  

 

If you need to reduce the amount of expenses you claim for the tuition credit because some of them were covered by tax free scholarship, that is handled in the follow-up interview after entering his 1098-T on your tax return. 

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