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I entered my son's 1098-T details where #2 is $6624.94 (expense) and #5 is $1120 (income-Scholarshop) yet TuboTax indicated that income was greater than expense. How?

 
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Accepted Solutions
MollieB
New Member

I entered my son's 1098-T details where #2 is $6624.94 (expense) and #5 is $1120 (income-Scholarshop) yet TuboTax indicated that income was greater than expense. How?

Was he a candidate for a degree?  Scholarship income is taxable if he was not working towards a degree or certificate.

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2 Replies
MollieB
New Member

I entered my son's 1098-T details where #2 is $6624.94 (expense) and #5 is $1120 (income-Scholarshop) yet TuboTax indicated that income was greater than expense. How?

Was he a candidate for a degree?  Scholarship income is taxable if he was not working towards a degree or certificate.

I entered my son's 1098-T details where #2 is $6624.94 (expense) and #5 is $1120 (income-Scholarshop) yet TuboTax indicated that income was greater than expense. How?

Issue was resolved over the phone support. Just for anyone else having this issue, it was my mistake that in "Education Information" section,  I did not see undergraduate and selected "No, xxx was a student in a different kind of program". The correct selection as advised was "Yes, xxx was working on one of these degrees" as he is studying for"Bachelor's"

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