Since you have the scholarship that covers your tuition from the Form 1098-T, you will report your fellowship amount under Other Reportable Income. Here are the steps:
In TurboTax online edition,
- After sign into your account, select Pick up where you left off
- To your left, select Federal
- Scroll down to Less Common Income / Miscellaneous Income 1099-A, 1099-C, select Start
- Next screen, scroll all the way down to Other Reportable Income, select Start to enter information
@PhdStudent85
You receive a Form 1098-T when you paid tuition amount to your school. When you also received a scholarship that fully covers your qualified education expenses, it is like a wash. You do not get any tax break. However, if your scholarship does not cover all of your education expenses, you may still claim either a credit or deduction on your tax return. However, if your scholarship exceeds your education expenses, the difference will be treated as wages added on line 1 of your Form 1040. If you meet certain requirements, you may qualify for an education tax break including the American Opportunity Tax Credit AOTC, Lifetime Learning Credit or Tuition & Fees deduction. To see if you qualify, here are the links:
Qualified expenses
Deductions
Credits
To enter your Form 1098-T in the program, here are the steps:
- Sign in to your account, select Pick up where you left off
- At the right upper corner, in the search box, type in "1098t" and Enter
- Select Jump to 1098t
- Follow prompts
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