Scholarships and Grants from Undergrad

[1956Goldtop]

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I was wondering for those of you who have been filing your taxes where you put the information for scholarships and grants that your institution has given you. Is this considered a source of income?

 

[Doctor Bagel]

I was wondering for those of you who have been filing your taxes where you put the information for scholarships and grants that your institution has given you. Is this considered a source of income?

Usually no. There are some exceptions, though. Here is a link to the IRS section on student taxes -- scroll to the bottom for info on scholarships. It sounds like scholarships and grants for living expenses are taxable while those for tuition, books, fees, etc. are not.

http://www.irs.gov/individuals/students/article/0,,id=96674,00.html