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Why does my gross annual income have a discrepancy of about $15,000 in my 2019 tax return?

 
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rjs
Level 15
Level 15

Why does my gross annual income have a discrepancy of about $15,000 in my 2019 tax return?

SCH 15000 on Form 1040 line 1 means that you have $15,000 of taxable scholarship income. Taxable scholarship income is added to your W-2 wages.

 

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5 Replies

Why does my gross annual income have a discrepancy of about $15,000 in my 2019 tax return?

What line on your tax return are you looking at?  Line 1 should match box 1 of your W2s.   Your W2 box 1 does  not include any pretax deductions like 401K and health ins.  Or is your 1040 line 1 too much?  Are there any letters by line 1 like SCH?

Why does my gross annual income have a discrepancy of about $15,000 in my 2019 tax return?

I’m looking at line 1 of my tax return and it is roughly $15,000 higher than the combination of both of my W-2s (I had 2 jobs) looking at line 1 on both of the W-2s. 

Why does my gross annual income have a discrepancy of about $15,000 in my 2019 tax return?

Also, it does say SCH15000

rjs
Level 15
Level 15

Why does my gross annual income have a discrepancy of about $15,000 in my 2019 tax return?

SCH 15000 on Form 1040 line 1 means that you have $15,000 of taxable scholarship income. Taxable scholarship income is added to your W-2 wages.

 

Why does my gross annual income have a discrepancy of about $15,000 in my 2019 tax return?

Did you get any 1098 forms?  SCH by 1040 line 7 or 1 Wages is taxable scholarship income and then the amount.

See FAQ https://ttlc.intuit.com/questions/2172062-why-is-my-scholarship-taxable

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