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.
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