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May 12, 2021
Question

claiming scholarships

  • May 12, 2021
  • 1 reply
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We have twins who just finished their first year of college.  They both got scholarships and we got a 1098-T for both.  The company my daughter worked for in 2019, gave her last paycheck to her in Jan 2020 so she has to report that income.  It was $45.50.  Anyway, I ran through both their taxes and federal is showing $0.  Is that right?  Then they both had to pay for state, which, I figured was correct.  I am baffled on the federal.  If it is $0, do we still file the taxes?

1 reply

Hal_Al
Employee
May 12, 2021

If the amount of taxable scholarship (or scholarships + wages) was less than $12,400, then the federal tax is 0 and a federal return does not need to b filed.

 

For state  Filing Requirements see: https://ttlc.intuit.com/questions/2903200-do-i-need-to-file-a-state-return