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Education
Yes, some scholarships are taxable.
- Scholarships are tax-free only if the amounts you receive are used to pay for tuition and fees required for enrollment or attendance at the educational institution, or for fees, books, supplies, and equipment required for courses at the educational institution.
- Scholarships are taxable if the amounts received are used for incidental expenses, such as room and board, travel, and optional equipment.
See IRS Tax Topic 421 for more info.
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‎June 5, 2019
10:29 PM
4,706 Views