You'll need to sign in or create an account to connect with an expert.
Scholarships and grants should be considered applied first to qualified tuition and fees. Any excess, that is used to pay for room and board, travel, or books and supplies, will be considered taxable income.
For more information about taxable scholarships, please read this TurboTax FAQ Why Is My Scholarship Taxable?
Scholarships and grants should be considered applied first to qualified tuition and fees. Any excess, that is used to pay for room and board, travel, or books and supplies, will be considered taxable income.
For more information about taxable scholarships, please read this TurboTax FAQ Why Is My Scholarship Taxable?
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.
sralla123
New Member
daniel
New Member
in Education
jmaling04
New Member
in Education
colcol17
Level 2
in Education
WearyTaxee
Level 2