Top Law Schools

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?

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.

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.

Thank you to you both!

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