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February 19, 2021
Question

1098-T

  • February 19, 2021
  • 1 reply
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My son is 19 years old and a college freshman.  He is listed on mine and my husband's 1040 as a dependent.  He has a scholarship which ended up being about $850 more than what his school expenses were for 2020.  He has no other income.  Do my husband and I list this $850 as income on our return?  If so where do we put it?  Thanks!!  

1 reply

February 19, 2021

Scholarships in excess of qualified education expenses are reported as income by the student, not the parents.

 

If your son has no other income, then he is not required to file a tax return as the excess scholarship is only $850.

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