Taxable Scholarships, Filing Status and FAFSA

[4kidsdad]

<p>

3 - Be claimed as a dependent on parents tax return, without filing separate tax return
report TAX_SCHOL on parents Form 1040:
line 7. Enter “SCH” and the taxable amount on the dotted line next to line 7.

This is not correct. Children’s taxable scholarships NEVER report on parents’ tax returns.</p>