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does scholarships/grants effect taxes?

if so, how? TIA!


Asked by Anonymous at 4:50 PM on Jan. 31, 2011 in Money & Work

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Answers (3)
  • If you received a fellowship or scholarship that was not reported on your 1098 (I think that is what it is called), then you have to input it into a different section on your tax return or something. Both my husband and I have received pell grants and he has received the Hope scholarship and GI Bill and they have not affected our taxes at all. I am not sure about other scholarships though.


    Answer by JeremysMom at 5:08 PM on Jan. 31, 2011

  • He has the GI Bill, thanks!

    Comment by Anonymous (original poster) at 5:19 PM on Jan. 31, 2011

  • I know, we would be screwed it the GI Bill did count as income!


    Answer by JeremysMom at 5:22 PM on Jan. 31, 2011

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