Taxable Scholarship Income not showing up on Line 1.

Forum|Forum|6 years ago
February 15, 2020
14 replies
75 views

Dependent has 1098-T with taxable scholarship income. I've entered the 1098-T and also completed the Student Information Worksheet. The taxable portion appears correctly on the worksheet, but does not show up on Form 1040, Line 1.

I can't find anywhere else to enter it except for the 'other wages' screen as 'Other'.

What am I doing wrong?

ProSeries Basic

This topic has been closed for replies.

Best answer by Terry53029

If student has required expenses I usually apply the excess to that, so there is no taxable income, if the scholarship allows that. If you have taxable scholarship on the 1040 line 1, click on the dotted line after W2, a box will pop up, click on magnifying glass, scroll down to line 13, and enter the taxable amount

T

Terry53029

Answer

Intuit Community Champion

If student has required expenses I usually apply the excess to that, so there is no taxable income, if the scholarship allows that. If you have taxable scholarship on the 1040 line 1, click on the dotted line after W2, a box will pop up, click on magnifying glass, scroll down to line 13, and enter the taxable amount

B

beylal

Level 3

This reply is to Terry. How do you go about applying the excess scholarship to other college required expenses such as room and board? I can't seem to make the taxable portion go away.

T

Terry53029

Intuit Community Champion

Are you sure that room and board is a requirement, as it is normally not, and if you use room and board, and it is not required it will be taxable. Normally expenses like supplies that must be bought from school, books, computers, things like that.

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