My daughter had Florida Pre-Paid. Additionally, she got other scholarships. They money that she has received is greater than her costs. Is this ocnsidered taxable income?
My daughter had Florida Pre-Paid. Additionally, she got other scholarships. They money that she has received is greater than her costs. Is this ocnsidered taxable income?
Yes, the amount of grants and scholarships greater than qualified education expenses or used for room and board is considered taxable income.
She will need to enter the 1098-T on her return instead of entering it on your return.
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My daughter had Florida Pre-Paid. Additionally, she got other scholarships. They money that she has received is greater than her costs. Is this ocnsidered taxable income?
Yes, the amount of grants and scholarships greater than qualified education expenses or used for room and board is considered taxable income.
She will need to enter the 1098-T on her return instead of entering it on your return.
**Say "Thanks" by clicking the thumb icon in a post **Mark the post that answers your question by clicking on "Mark as Best Answer"
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