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T
therealzybria
February 11, 2021
Question

Education

  • February 11, 2021
  • 1 reply
  • 0 views

What does SCH 3935 on line 1 mean?

    1 reply

    B
    Bsch4477
    Employee
    February 11, 2021

    If it is on line 1 of your 1040 it is scholarship income. 

    Hal_Al
    Hal_Al
    Employee
    February 11, 2021

    It means the amount on line includes $3935 of taxable scholarship. 

     

     TurboTax calculated this, based on your input in the education expenses section.  It frequently is no more than the amount that box 5 of the 1098-T exceeds box 1 by. 

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