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March 27, 2020
Question

Should my grants/scholarships count as earned income for 2019?

  • March 27, 2020
  • 1 reply
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1 reply

March 27, 2020

It depends.

 

Scholarships are taxable if used for the following items

  • Room & board 
  • Travel & incidental expenses 
  • Any fees, books & supplies not required for classes 

If your scholarship funds were used for the above items, you need to include them in your income.

 

Scholarships are not taxable if used at an eligible school for a degree if: 

  • Tuition & fees 
  • Fees, books, supplies needed for classes 
  • Scholarship or fellowship for services from: 
    • National Health Services Corps Scholarship Program 
    • Armed Forces Health Professions Scholarship & Financial Assistance program 

 

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