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- Jen
Sounds like you need to pay tax on the scholarship but don’t want to? Not sure what your actual question is.
EmilyI’m an expert in an analogous issue for graduate students (l don’t prep returns though).
The trick is that the software needs to understand that the income is scholarship income, not self-employment or “other” income, which is difficult when reported on a 1099-MISC.
I suggest using FreeTaxUSA instead of the software you mentioned.
TeresaPaying taxes is still a way better deal than paying for the full cost of schooling. Don’t be afraid to pay the taxes.
LeslieIs this the SMART scholarship by chance? Regardless, the scholarship amount that exceeds tuition, books, and fees is taxable.
ChantalWe’re in the same boat, kid with no income but full ride plus has to pay $3k+ in taxes. I’m glad someone let us know in advance and try to share that info too because if they spend it, they’re in for a shock.
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