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February 7, 2021
Question

My wife received Federal Pell grant money and CARES Funding last year for college courses. Do we have to file that on our taxes as income, and if so, where's the paperwork? Is it a W2 or something el

  • February 7, 2021
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KrisD15
February 7, 2021

You should get a 1098-T from the school. Ask the school financial aid office or check your student online account. 

If the grants covered the tuition, and nothing more, and there were no additional costs, such as books and supplies, there would be nothing to report. 

 

If you end up using education expenses for an education credit, you will need to subtract the portion of tuition the CARES ACT covered from total expenses. 

 

IRS Pub 970

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