Edit: This is for Florida, which does not have a personal income tax. I’m referring to purely federal tax codes.
So, I have a full ride scholarship at my university, plus a few external scholarships from other sources, leaving me with ~$3000 after paying for tuition and fees, which I mostly spent on books and other educational materials, leaving me with about $2000 after everything.
I spoke to some people at my university, and they told me that the federal aid and aid from the school isn’t taxed, which leaves me with around $500 of private scholarship money that didn’t pay for anything educational.
Do I report this as income since it... well, is? Or do I not report it because it went through all the proper paperwork to be considered a legitimate scholarship? (It wasn’t just given to me, it was given to my school and then disbursed to me).
Any advice would be much appreciated!
Submitted January 09, 2019 at 10:28AM by -Reddit_Account- http://bit.ly/2RE6BmC
