are student grants subject to tax?
Aug 29th, 2008 by admin
my daughter received a grant for her 2006 schoolyear. Should I include it in her taxes?
Student_Loans_And_Grants » are student grants subject to tax?
2 Responses to “are student grants subject to tax?”
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As long as she used the entire amount for school, it isn’t taxable. She doesn’t have to report it as income, in that case.
As long as the grant was used for eligible education expenses it is not taxable. If there were any student loans or out of pocket money spent on tuition then I would check into the HOPE or Lifetime Learning Credit to actually receive a tax credit.