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jomcglynn1027-gm

Question

How was the income from my scholarships/grants/fellowships calculated?

Forum|Forum|5 years ago
March 13, 2021
1 reply
0 views

I am completing my federal refund and my calculated income includes my income from my work and income from my scholarships/grants/fellowships from my school. However, I'm not sure how the income from my scholarships/grants/fellowships was calculated.

TurboTax Deluxe Online

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Scholarships that pay for qualified educational expenses (QEE - tuition, fees, books and other course materials) is tax free. Scholarship amounts that exceed QEE is taxable income, on the student’s tax return.

If box 5 of the 1098-T exceeds box 1, TurboTax (TT) will treat the difference as taxable income, unless you enter additional QEE at books and other expenses.