- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Why was 1450 dollars added to my wages and income for SCH because I did not enter that amount to my wages turbo tax factor that amount ?
Why was 1450 dollars add to my wages and income as SCH?
Topics:
posted
May 31, 2019
5:52 PM
last updated
May 31, 2019
5:52 PM
1 Best answer
Accepted Solutions
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Why was 1450 dollars added to my wages and income for SCH because I did not enter that amount to my wages turbo tax factor that amount ?
That's a taxable Scholarship of $1450.
May 31, 2019
5:52 PM
3 Replies
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Why was 1450 dollars added to my wages and income for SCH because I did not enter that amount to my wages turbo tax factor that amount ?
Did you add all your tuition and eligible expenses and still have leftover money? That amount is taxable to you.
<a rel="nofollow" target="_blank" href="http://www.fastweb.com/financial-aid/articles/should-i-claim-scholarships-and-other-awards-on-taxes"...>
<a rel="nofollow" target="_blank" href="http://www.fastweb.com/financial-aid/articles/should-i-claim-scholarships-and-other-awards-on-taxes"...>
Disclaimer: Not a tax professional. Information gathered from internet links. Anything dated in June 2019 was posted in prior years and is before the 2019 limits and changes.
May 31, 2019
5:52 PM
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Why was 1450 dollars added to my wages and income for SCH because I did not enter that amount to my wages turbo tax factor that amount ?
That's a taxable Scholarship of $1450.
May 31, 2019
5:52 PM
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Why was 1450 dollars added to my wages and income for SCH because I did not enter that amount to my wages turbo tax factor that amount ?
SCH and the number entered is the amount of taxable scholarship that is included in Line 7 of Form 1040.
See this TurboTax support FAQ - https://ttlc.intuit.com/questions/2172062-why-is-my-scholarship-taxable
See this TurboTax support FAQ - https://ttlc.intuit.com/questions/2172062-why-is-my-scholarship-taxable
May 31, 2019
5:52 PM
Still have questions?
Make a post