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J
jennee0124
February 4, 2021
Question

If received CARES Act income from my college this year, where do I report this and do I need to wait for a document from my school?

  • February 4, 2021
  • 1 reply
  • 0 views
The CARES Act coronavirus relief was distributed to all students who were enrolled more than half time in college. I received 2 payments- one for $600 and one for $350.

1 reply

M
mglauner
February 4, 2021

The IRS has determined that funds received by a student under these programs represents qualified disaster relief payments under IRC §139, and thus are not includable in income. 

 

You may still qualify for a Recovery Rebate Credit.  When you have finished your return, go to the Federal Review to see if you qualify. 

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