Solved

Do I have to claim a scholarship

Forum|Forum|7 years ago
June 6, 2019
1 reply
0 views

My daughter received a $ 2500 scholarship that was paid to her with a check

She did not receive a 1099 and the scholarship was not listed on her 1099-T that she got from the college

Do I have to claim this on my return

TurboTax Deluxe Windows

Best answer by Hal_Al

Yes, you have to ckaim itYou have two choices:

1. You daughter reports it as income, on her return, not yours.

2. You enter it, in TurboTax, for your return. TurboTax uses it to reduce the amount of tuition and other expenses you can use to claim a tuition credit.

3. Some of each of the above. Using an example: Student has $0 in box 5 of the 1098-T and $5000 in box 2. You use $4000 of the box 2 amount to claim the tuition credit. You use $1000 of the scholarship to cover the other $1000 (5000-4000=1000) of tuition and your daughter claims $1500 of income on her return.

Hal_AlAnswer

Employee

Yes, you have to ckaim itYou have two choices:

1. You daughter reports it as income, on her return, not yours.

2. You enter it, in TurboTax, for your return. TurboTax uses it to reduce the amount of tuition and other expenses you can use to claim a tuition credit.

3. Some of each of the above. Using an example: Student has $0 in box 5 of the 1098-T and $5000 in box 2. You use $4000 of the box 2 amount to claim the tuition credit. You use $1000 of the scholarship to cover the other $1000 (5000-4000=1000) of tuition and your daughter claims $1500 of income on her return.

L

ladaros2768Author

I will get back about $500 more if i dont list the scholarship on my return
If my daughter doesnt make a lot of money is it better for her to claim it as income and would she input it as scholarship income