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Author: AKFOOL1 Two stars, 250 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121594  
Subject: Scholarship income Date: 3/10/2014 1:19 PM
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My son received scholarship on 2013 and it directly paid for part of his tuition, how shall we report the scholarship income? We didn't receive any form for the scholarship institute, shall we report the scholarship under my name (I claim him as dependent) or he has to claim it under his income tax return?
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Author: ptheland Big gold star, 5000 posts Feste Award Nominee! Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 120421 of 121594
Subject: Re: Scholarship income Date: 3/10/2014 2:57 PM
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He would claim any taxable scholarship on his own return.

If he didn't get a W2 or 1099 for the scholarship, two possibilities come to mind. The scholarship is not taxable, or your son lost the form.

--Peter

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Author: TMFPMarti Big funky green star, 20000 posts Home Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 120424 of 121594
Subject: Re: Scholarship income Date: 3/10/2014 4:47 PM
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My son received scholarship on 2013 and it directly paid for part of his tuition, how shall we report the scholarship income?

There may not be anything to report. See Chapter 1 of Pub 970 for how to treat scholarships and how to report taxable ones,

Phil
Rule Your Retirement Home Fool

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