You're not helping with entering scholarships and grants! If the scholarship exceeds the box 1 tuition it becomes a negative number! That's not accepted by your software

Forum|Forum|6 years ago
December 7, 2019
1 reply
9 views

ProConnect Tax Online

This topic has been closed for replies.

Best answer by George4Tacks

https://accountants-community.intuit.com/articles/1607224-reporting-taxable-scholarships-and-fellowships-on-form-1040

Solution #1- To report Taxable scholarships and fellowships on Form 1040, Line 7:

Go to the screen, SS Benefits, Alimony, Miscellaneous Inc.
Scroll down to the Alimony and Other Income section.
Enter the taxable portion in Taxable scholarships and fellowships. (The program includes this amount on the Wages line of Form 1040 and also includes a footnote for the item with the description "SCH."

Sorry I didn't help when you first asked.

George4TacksAnswer

Level 15

https://accountants-community.intuit.com/articles/1607224-reporting-taxable-scholarships-and-fellowships-on-form-1040

Solution #1- To report Taxable scholarships and fellowships on Form 1040, Line 7:

Go to the screen, SS Benefits, Alimony, Miscellaneous Inc.
Scroll down to the Alimony and Other Income section.
Enter the taxable portion in Taxable scholarships and fellowships. (The program includes this amount on the Wages line of Form 1040 and also includes a footnote for the item with the description "SCH."

Sorry I didn't help when you first asked.

Answers are easy. Questions are hard!

T

TaxGuyBill

Level 15

That article is outdated, as it goes on Line 1 of Form 1040 now.

Sign up

Login with SSO

Let's get you signed in

Login with SSO