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Is my grad school scholarship/stipend taxable if I used it to complete a degree requirement, like a required summer internship in the public service sector?
I have a scholarship/fellowship through my graduate program that covers all academic expenses, and a stipend for education expenses. My Fellowship at the school requires the completion of an internship at a nonprofit, meaning I couldn't intern at a private company (where I would make more money). As a result, I used my stipend to pay for moving and living expenses related to this internship. It seems to me that anything associated with this internship would constitute a "required educational expense"; are there any deductions I can take with this?
‎June 6, 2019
4:01 AM