Hi there,
A Pell grant does not need to be reported on your tax return, if you satisfy two IRS requirements that apply to all scholarships and grants:
- You must be enrolled in a program as a degree candidate, or you must be pursuing a training program that prepares you for specific types of employment upon completion.
- You must use the Pell grant only to pay for “qualified education expenses.”
For more info on Pell grants and tax implications, check out this article: https://turbotax.intuit.com/tax-tips/college-and-education/do-you-have-to-claim-pell-grant-money-on-...
Also, if your taxable scholarship amount was not reported on a Form 1098-T, you can see the steps for entering the scholarship amount into TurboTax is as follows:
- Log in to your TurboTax Online account, or open your TurboTax CD/Download program
- Choose Take me to my return
- Click on Federal Taxes
- Click on Wages & Income
- Locate Less Common Income and click Show more
- Locate and click to Start next to Miscellaneous Income, 1099-A, 1099-C
- Answer Yes to Did you receive any other wages?
- On the following screen you will locate Other reportable income and click Start
- Then you will enter SCH in the description box and the amount
- Click Done
