Deductions & credits

Is your taxable scholarship income less than $6300?  If so, it is the interest that is lowering it because you are a dependent.


For dependents, $6300 is the Standard Deduction for earned income (from a job, but for this purpose only, taxable scholarships also count as earned income).

Standard Deduction for unearned income (such as interest) is $1050.

If you have a combination of both, it is $350 plus your earned income (up to a $6300).

See worksheet on page 39 of the Instructions for Form 1040:

https://www.irs.gov/pub/irs-pdf/i1040gi.pdf#page=39


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