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On line 7 of my 2015 tax return the code SCH 785 is on the line. Why is that there? And what is it in reference to?

Forum|Forum|7 years ago
June 6, 2019
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Best answer by rjs

The SCH 785 on line 7 of your Form 1040 or 1040A means that you had $785 of taxable scholarship income. That income is added to the wages from your W-2s (if any) and the total is reported as wages on line 7. Scholarship income is taxable when it is used for something other than tuition and fees. The Form 1098-T that you got from your school might show a scholarship amount in box 5 that is higher than the amount of tuition. For more details about what scholarship income is taxable, see the FAQ at the link that epo39b posted above.

M

mesquitebean

Employee

Did you have any taxable scholarship income that year? i.e., did you have any scholarship income that exceeded the amount of allowed qualified educational expenses?

M

mesquitebean

Employee

Also see this FAQ:
<a rel="nofollow" target="_blank" href="https://ttlc.intuit.com/questions/2172062-why-is-my-scholarship-taxable">https://ttlc.intuit.com/questions/2172062-why-is-my-scholarship-taxable</a>

A

allibearbAuthor

Just found out it was due to the taxable income of my scholarship. thank you!

rjsAnswer

Employee

The SCH 785 on line 7 of your Form 1040 or 1040A means that you had $785 of taxable scholarship income. That income is added to the wages from your W-2s (if any) and the total is reported as wages on line 7. Scholarship income is taxable when it is used for something other than tuition and fees. The Form 1098-T that you got from your school might show a scholarship amount in box 5 that is higher than the amount of tuition. For more details about what scholarship income is taxable, see the FAQ at the link that epo39b posted above.