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rrosa14
New Member

My 1098-T form only has an amount in box 5 which is 6268.00. Why are they adding that up to my wages? making my income more then what it is.

 
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1 Reply
ChristinaS
Expert Alumni

My 1098-T form only has an amount in box 5 which is 6268.00. Why are they adding that up to my wages? making my income more then what it is.

Scholarship in excess of tuition is added to the wages line of your tax return. If the scholarship is for a year other than 2016, you should indicate that in the program. If you have nothing in box 1 or box 2, that is likely the case.

Did you receive the scholarship in 2016 for tuition that was reported on last year's 1098-T?

If so, you can either:

-Delete the 1098-T. Going through these screens is pointless.

OR

  1. Get to the screen inside the Education section labelled Here's Your Education Summary
  2. Click edit next to Scholarships/Grants
  3. continue to the question Did X's Aid Include Amounts Not Awarded for 2016 Expenses?
  4. Say Yes and enter the Box 5 amount since it applies to what was on your 1098-T last year

You won't be taxed on the scholarship if it is matched against tuition that was on 2015's 1098-T. There's really no point in entering the 1098-T, as you are not eligible for a credit when you have no 1098-T expenses.

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