You are correct that the amount of scholarship received that exceeds your qualified tuition and fees is reportable as gross income. You will include it on your tax return along with your other wages. In TurboTax, you’ll need to report the excess as income on the “wages and salary” line and enter “SCH” to the left of the amount.
See this article for more information on this topic.
Your parent should check to be certain that they can still qualify to claim you as a dependent. It may depend on your age, your income, and the amount of support they provide. See this article for more information. If they can't claim you, then you will be able to claim the full standard deduction before your income is taxable.
If you are claimed as a dependent, be sure to note that on your own return:
- Login to your TurboTax online account
- Click Take me to my return or pick up where I left off
- Click My Info (found on the left hand side)
- Click edit to the right of your name
- This will take you to the Your personal info screen; Scroll down to part 3 and click Yes to the statement- Someone else can claim me as a dependent on their tax return.
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