Does the taxable portion of a student grant (the portion i used for housing) count toward my adjusted gross income on my return?

[bmillenbruck1]

For example say i earned $5000 from a business and I’m also a student and receive $5000 in grants. $1000 of that $5000 in grants is used for housing so its taxable. Does this $1000 now add to my

[KatrinaB48 · Accepted solution]

Yes, if you used a portion of your grant money to pay room and board then that portion is counted as taxable income. Please view this TurboTax FAQ for more information.

The full amount of your taxable income may not count towards your adjusted gross income. If you have any of the adjustments to income listed 1040, Form 1 below it will lower your taxable income.