KrisD15
Expert Alumni

Education

If your parents claim you, they might want to enter the 1098-T into their TurboTax program. Even though you had more scholarship than tuition, they MIGHT get a credit however you MIGHT have to claim more scholarship income in that scenario. 

 

Check with your parents first, but if you just want to claim the difference as income, delete the 1098-T and enter the amount of the scholarship you are claiming as income in the education section, yes under Deductions & Credits. 

$7,745 tuition in Box 1 does not include books and fees, so you might want to add that before subtracting from the $10,500 scholarship to get the taxable amount. Also, look at IRS Pub 970 to gain a better understanding of what you are doing and what your parents could do. 

IRS Pub 970

 

Delete the 1098-T.

Click Tax Tools, then Tools, then delete a form, then scroll down and delete the 1098-T and all education worksheets

 

Go back through the Education section, but don't enter anything until you get to the "Did you receive a scholarship or Grant in 2019?"

Say "No", you did not get a 1098-T

Say "No" you do not have an exception

Continue to say "No" to expenses

When you get to the "Did you receive a scholarship or Grant in 2019?" screen, click "Yes" and enter the amount of taxable income

SEE SCREENSHOT

Click Continue 

Continue through the interview, but don't enter any other expense or scholarship information. 

The amount will be on your 1040, line 1 with "SCH" before the amount

Check it:

Click Tax Tools, Tools, View tax summary on the screen, Preview my 1040 that now appears on the left side bar, scroll down to 1040 line 1

SEE SCREENSHOT 

 

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