- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Education
What are you trying to do?
Are you a dependent on your parent's taxes? Did they claim the tuition credit based on your education.
The simple answer to you question is just enter your 1098-T. If box 5 is more than box 1, TurboTax (TT) will treat the difference as taxable income. If you other qualified expenses other than what's shown in box 1, the TT interview will give you a chance to enter them and TT will adjust the taxable amount. TT puts the income in the right place on the tax forms (line 1 of form 1040 with the notation “SCH”).
February 1, 2021
8:55 AM