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

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

Daughter in college. Got a nice scholarship. one to pay for her books, supplies, tuition, the rest of it came for living expenses, in a separate document total. It says w

we cannot take any credits. I think that is incorrect based on the reasons why. I want to verify, and also learn how to correct the issue. This is the reason I bought the turbotax program.
Connect with an expert
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.

1 Reply
SeanE1
New Member

Daughter in college. Got a nice scholarship. one to pay for her books, supplies, tuition, the rest of it came for living expenses, in a separate document total. It says w

You should have received a 1098-T from your daughter's college.  Then, if you claim your daughter as a dependent on your income tax return, you should enter the 1098-T so that you receive any education credit that would be available to you.  If Box 5 (Scholarships/Grants) is greater in its amount compared to Box 1 (Payments Received) or Box 2 (Amounts Billed), your daughter would also include the 1098-T on her own tax return.  The reason for this is the IRS views any excess of Box 5 over Box 1 or Box 2 as taxable income to the student.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies