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Do I have to report scholarships and other academic awards on my return?

SOLVEDby TurboTax43Updated February 03, 2022

Yes, scholarships and other academic awards are considered income and must be reported on your return. However, you can reduce the taxable amount of this income if you meet eligibility requirements for the scholarship exemption.

TurboTax automatically calculates your exemption (the amount you won't be taxed on) from the information you enter in box 105. The remaining (taxable) amount is then included in the Other Income section on your tax return.

  1. Select Find from the menu
  2. Enter T4A and select T4A Pension, Retirement, Annuity, then select Go
  3. Select Enter new T4A
  1. Select Find from the menu
  2. Enter T4A and select T4A Pension, retirement, annuity, then select Go
  3. On the Entering your federal T-slips screen, select the checkbox next to T4A
  4. Select Continue until you reach the T4A Summary screen
  5. Select Enter new T4A

Related information

Frequently asked questions about tuition and education amounts

Frequently asked questions about transferring and carrying forward tuition and education amounts

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