Scholarships

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haveahat
Posts: 62
Joined: Sun Jan 15, 2012 4:17 pm

Scholarships

Postby haveahat » Sat Dec 08, 2012 10:14 pm

Does anyone know if scholarships are taxed as income? If so, a full tuition scholarship would still cost SOMETHING, just indirectly and, of course, less. Does it depend on if you are being claimed as a dependent or if you are independent?

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WhiteyCakes
Posts: 1390
Joined: Mon Mar 05, 2012 2:38 pm

Re: Scholarships

Postby WhiteyCakes » Sat Dec 08, 2012 10:22 pm

haveahat wrote:Does anyone know if scholarships are taxed as income? If so, a full tuition scholarship would still cost SOMETHING, just indirectly and, of course, less. Does it depend on if you are being claimed as a dependent or if you are independent?


No. No. No.

M458
Posts: 387
Joined: Sat Sep 22, 2012 5:58 pm

Re: Scholarships

Postby M458 » Sat Dec 08, 2012 10:23 pm

http://www.irs.gov/publications/p970/ch ... 1000177988

If you want more info. But the above is the correct answer--no, it is not taxable. A stipend used for room/board is taxable though from my understanding.

haveahat
Posts: 62
Joined: Sun Jan 15, 2012 4:17 pm

Re: Scholarships

Postby haveahat » Sat Dec 08, 2012 10:38 pm

Thank you to you both!

Also, It's sort of strange getting correct information from Barry Zuckerkorn...




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