Question
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)?
