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Retirement tax questions
Are there any letters by 1040 line 1? Like SCH or DCB or HSH?
Did you get any 1098 forms? SCH by 1040 line 1 Wages is taxable scholarship income and then the amount.
See FAQ https://ttlc.intuit.com/questions/2172062-why-is-my-scholarship-taxable
and how Turbo Tax calculates
https://ttlc.intuit.com/questions/1901084-how-does-turbotax-calculate-line-7-form-1040-1040a-and-lin...
Taxable scholarship is any grant or scholarship amount that exceeds qualified educational expenses (tuition, fees and for undergrads, course materials[books]). Loans are not scholarships and are never taxable
OR
HSH is for Household Help
DCB means Dependent Care Benefit
Or do you have any 1099R forms with code 3 in box 7?
‎July 3, 2020
12:03 PM