- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Deductions & credits
@ch543b said "If you go to the IRS webpage, there is a worksheet to calculate it. It says to add $350 to the dependent's income".
That's not correct. A dependent's standard deduction is the greater of $1100 or his EARNED income + $350, but not more than $12,400. For purposes of the standard deduction calculation, taxable scholarship is treated as earned income, if entered correctly in TurboTax.
‎June 11, 2021
6:14 PM
1,889 Views