Question

I need to report some scholarship money as income, which I believe will be on a 1040 form. However, I cannot find an editable version of this form on the online platform

Forum|Forum|7 years ago
June 1, 2019
1 reply
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TurboTax Free Edition Online

Hal_Al

Employee

That;s correct. You cannot make entries directly on the form, with the online editions of TurboTax**.

You can with the download (desktop) versions.

** All entries must be made via the interview. Taxable scholarship is not entered in the income section.

In TurboTax (TT), enter at:

Federal Taxes Tab

Deductions & Credits

-Scroll down to:

--Education

--Education Expenses

If the difference between box 5 and box 1 on your form 1098-T is your taxable amount, not additional entries are needed.

M

miashaziaAuthor

Thanks for your answer. Just to clarify, if I received a larger scholarship than I paid in tuition, the difference between the scholarship and the tuition amount is the taxable amount? And as long as I have entered these two values in form 1098-T, there is no need to enter that difference under 'income'?