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I am filing taxes for the part time, and I don't know how much tax I have to pay. IRS says that taxable scholarship should be listed on the wages line, and this is eventually added to AGI. However, scholarship is not something I get bi-weekly and get taxed on. So, with the amount for the AGI, how can I calculate how much tax I have to pay? The entire AGI consists of taxable scholarship. I have no other income because I did not work.

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The amount you received (before any taxes) goes to the wages line. The taxes paid, which should be reported to you separately (probably on the same 1099 as the scholarship) go to line 64 (assuming full form 1040), and will be credited to the bottom line.

Follow the instructions for each line, it will balance out as it should.

  • I never paid taxes. Does this mean I owe taxes? I don't have a number to put on line 64 because my scholarships have not been taxed. – Skipher Mar 19 '16 at 6:37
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    @Skipher: Go through the forms, filling in what it tells you to, and you will find out if you owe taxes or not. (Or do the same thing by using one of the free online tax programs.) – BrenBarn Mar 19 '16 at 7:09
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    @Skipher it's taxable, but it doesn't necessarily mean you owe taxes. The actual tax rate and amounts depend on your personal situation, so we can't answer that for you. As BrenBarn says - you'll need to fill the forms, line by line, and do the math as per instructions. The end result will be on either line 75 or 78 of your form 1040, and will tell you whether you owe anything, due a refund, or just need to submit the return and not pay or receive anything. – littleadv Mar 19 '16 at 7:15
  • When you put this on the form, you're also supposed to write "SCH $XXXX" on the dotted line to the left of the box with the total wages, just FYI. The XXXX is your scholarship dollars. – user32479 Apr 18 '16 at 13:35

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