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- 1098-T and Scholarship exceeds Tuition
1098-T and Scholarship exceeds Tuition
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stephb728
Level 1
02-26-2021
02:50 PM
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Dependent child has athletic scholarship and receive Form 1098-T with box 5 Scholarships of 30,541 and box 1 payments of 12,760. Does this set off the kiddie tax? Child has 2 W-2s and 1099-NEC and must file. Thanks!
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TaxGuyBill
Level 15
02-26-2021
03:21 PM
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If the 1098-T is accurate in the amount of tuition and the amount of scholarships received, yes, the child will be subject to the Kiddie Tax.
Be aware there is a horrible error in ProSeries in regards to the Kiddie Tax. You need to open up some Kiddie Tax capital gain/Schedule D worksheet (even if Schedule D does not apply) in order for the program to correctly calculate the tax.
