turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

Jnessa
New Member

College financial aid

Hi, my only income right now is my financial aid I receive for school/college. My question is about differentiating what of my aid is taxable or not. I understand the difference between qualified and not qualified in reference to my aid being used directly for tuition/books or not. But was wondering if it matters what the source of the aid technically is.

For example say some is Pell grant, some is Cal grant, but then I also recieved an emergency aid grant specifically from my school, as well as a covid related emergency grant… how do I know what of my aid is taxable and what isn’t? Or is it just all considered taxable if it’s not considered the qualified (solely tuition/books)?

Connect with an expert
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Reply
Vanessa A
Expert Alumni

College financial aid

Yes, it is all considered taxable if it is not used for tuition/books or required material. 

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies