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Level 2
posted Jan 31, 2021 9:35:06 AM

Form 1040

In order to report fellowship income I need to manually add the amount on line 1 of form 1040. When I go to the form it does not allow any changes to the form. How do I enter this information to reflect correctly on the form?

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1 Replies
Expert Alumni
Feb 3, 2021 2:34:02 PM

Enter it under Education in the Deductions & Credits section.

 

Since you do not have a 1098-T, you still need to add yourself as a student and enter all the other information as if you are about to enter a 1098-T, but you'll say you don't have one and that you don't have an exception. 

 

CONTINUE

 

A screen will ask if you have a scholarship, fellowship or grant to declare, you say yes. Enter the amount, answer more questions and it is listed as "Scholarship" on line 1. 

 

"Be sure to enter it separately, not on the 1098-T screen.

Click Federal on the left side-bar

Click Deduction & Credits along the top

Scroll down to the Education Section (Click “Show All" if needed)

Click Start or Revisit next to “Expenses and Scholarships (Form 1098-T)"

Even if you don't have a 1098-T to enter, continue as if you will.

You will get to a screen where you finally say you don't have a 1098-T and you don't have an exception

The program will ask for additional expenses

Next, the program asks for Scholarships and Grants

Answer "Yes" and Scroll down and Enter the scholarship amount in the proper box and Continue

Answer the questions carefully

The scholarship will be reported on line 1 of the 1040"