I received a scholarship that covered room, board, and tuition. That was my only income. I'm full time student. Do I owe taxes on the portion that covered room and board?
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I received a scholarship that covered room, board, and tuition. That was my only income. I'm full time student. Do I owe taxes on the portion that covered room and board?
I received a scholarship that covered room, board, and tuition. That was my only income. I'm full time student. Do I owe taxes on the portion that covered room and board?
Q. Do I owe taxes on the portion that covered room and board?
A. Yes. But, if that is your only income, you do not need to file a tax return (or pay tax) if the amount of excess scholarship (the amount for R&B) is less than $14,600.