You'll need to sign in or create an account to connect with an expert.
It depends. What kind of tax documents do you have and what did you receive the income for? Awards are reported in one place and scholarships and fellowships are reported in a different place.
See https://www.irs.gov/charities-non-profits/private-foundations/grants-to-individuals
Without knowing what you received (grant? fellowship? award?) and what it was designated for (if anything) it's just a wild guess at this point. It would help also if you let us know if you received any type of tax reporting document with the amount of the grant on it, or if you received a letter addressing and specifying the purpose and use of the money. (if such a letter was received)
Thanks that was very helpful! I didn’t receive any tax documents, details are I’m a professional visual artist/writer and received two awards last year. One was an cash fellowship from a philanthropic organization that can be used towards living expenses while working on a graphic novel, and the second was a stipend towards living expenses while at a six-month writing residency also working on a graphic novel. Based on the link you sent, it does seem like these awards would fulfill the last requirement about an award going towards supporting a creative skill?
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
Taxes_Are_Fun
Level 2
Taxes_Are_Fun
Level 2
Taxes_Are_Fun
Level 2
Martin667
Level 1
QRFMTOA
Level 5
in Education