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ksbess
New Member

If I've received scholarships that are from non-profit organizations, do I have to claim them on my taxes? And how can I tell for sure if they're non-profit?

I'm trying to see if I qualify for the American Opportunity Tax Credit and/or Lifetime Learning Credit. I've never claimed any portion of it, and I'm in my 3rd year of college. I've had scholarships and pell grant that have in one way or another covered all my expenses. (I may have had to pay out a couple hundred when all was said and done.)
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1 Reply
ThomasM125
Expert Alumni

If I've received scholarships that are from non-profit organizations, do I have to claim them on my taxes? And how can I tell for sure if they're non-profit?

You should report the scholarship income on your tax return, as it may be taxable.

 

The scholarship income should be reported in box 5 of your Form 1098-T. The school is responsible for keeping track of your scholarship income and it is reported on that form. It wouldn't matter if the scholarship was from a non-profit or not, it will be taxable to the extent you don't use it for qualifying education expenses. When you work through the education and scholarship entry screens in the Education section of TurboTax, you will be asked questions to determine what portion if any of your scholarship income is taxable.

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