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Is student financial aid claimed on taxes?

Will we need to report any grants for financial aid on taxes?

Answer Question
 
Anonymous

Asked by Anonymous at 6:49 PM on Jan. 13, 2011 in Money & Work

Answers (8)
  • I'm not sure. I didn't report mine, I also didn't find any place I should input it while doing taxes last year. I would ask the financial aid office at your school just to be sure.
    mommy_of_two388

    Answer by mommy_of_two388 at 6:58 PM on Jan. 13, 2011

  • I never have; its not considered income. If you had out of pocket school expenses you report that, student loans qualify for this.
    MizzNicole

    Answer by MizzNicole at 7:04 PM on Jan. 13, 2011

  • musicmom08

    Answer by musicmom08 at 7:08 PM on Jan. 13, 2011

  • it's not considered income, so you shouldn't have to.
    Mom2Jack04

    Answer by Mom2Jack04 at 7:38 PM on Jan. 13, 2011

  • I never have, even though I get money after books and tuition sent to me in a check, the financial aid office says I don't
    JLS2388

    Answer by JLS2388 at 8:01 PM on Jan. 13, 2011

  • Call the IRS 1-800-829-1040 - Hours of Operation: Monday – Friday, 7:00 a.m. – 10:00 p.m. your local time (Alaska & Hawaii follow Pacific Time).
    rkoloms

    Answer by rkoloms at 8:33 PM on Jan. 13, 2011

  • http://www.irs.gov/pub/irs-pdf/p970.pdf

    Page five will tell you if it is taxable or not.
    Erica_Smerica

    Answer by Erica_Smerica at 9:33 PM on Jan. 13, 2011

  • I think it's a deduction. At least money you paid out of pocket for tuition.
    HotMama330

    Answer by HotMama330 at 3:17 PM on Jan. 14, 2011

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