If you had just made
$1,193.60 there would be no need to file a 2016 income tax return. However, with the addition of your 1098-T,
you may have to file, especially since you are saying that Box 5 is greater
than Box 2. What this tells me is that the total of your scholarship was
greater than the amount of qualified education expenses, and that the
difference is viewed by the IRS as taxable income. I would suggest that you go ahead and enter
all of your information into Turbotax Free Edition and see how the numbers work
out. Any amount from your 1098-T deemed
as taxable income will show up on Line 7 of your Form 1040A or Form 1040 as (SCH
$amount). I would also collect all of
the financial information related to any other qualified education expenses and
any out of pocket money spent for college and include this information in the
education expense section of your program in the Deductions & Credits
section. You just may be entitled to an
education credit for 2016 and entitled to a small refund.
