turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

will you look into my 1098-t

My scholarship is being counted as taxable income when i was a full-time student all of 2024
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

2 Replies
Hal_Al
Level 15

will you look into my 1098-t

Being a fulltime student does not exempt your scholarship from being taxable. 

 

Scholarships that pay for qualified educational expenses (QEE - tuition, fees, books and other course materials, including a computer) is tax free.  Scholarship amounts that exceed QEE is taxable income, on the student’s tax return. Room & board are not QEE.

If box 5 of the 1098-T exceeds box 1, TurboTax (TT) will treat the difference as taxable income, unless you enter additional QEE at books and other expenses.

 

 

MayaD
Employee Tax Expert

will you look into my 1098-t

Scholarship funds received in excess of your qualified educational expenses may be taxable and might need to be reported in your taxable income.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question