You'll need to sign in or create an account to connect with an expert.
Taxable scholarship and fellowship amounts are the parts used for:
• Payments for teaching, research, or other services performed.
• Incidental expenses; room & board, optional equipment, & travel.
In TurboTax, enter your scholarship under Federal Taxes – Deductions & Credits (click I'll choose what I work on), Your Deductions & Credits, the Expenses and Scholarships topic (Form 1098-T) under the Education group.
The taxable portion of scholarships (or fellowship grants) should be reported on line 7 of Form 1040 (Wages, salaries, tips, etc.) with the notation "SCH." and the taxable amount of the scholarship.
Also, see this link for additional information and Worksheet 1-1.Taxable Scholarship and Fellowship Grant Income to figure out the taxes that you owe on your Fellowship Grant. https://www.irs.gov/publications/p970/ch01.html
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
mayra_sqvl
Level 1
dimitricourant
New Member
zachary2016
New Member
Gregory16
Level 1
wannabe08
New Member
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.