Are scholarships taxable, are grants taxable — Do I need to report scholarship and grant money I received as income?
If your scholarship or grant was for study or research in the pursuit of a degree, the money used to pay your qualified tuition and related expenses isn’t taxable.
However, scholarship or grant income is taxable if:
- The scholarship or grant was for general living expenses to a non-degree student.
- The grantor requires you to perform services in return for granting the scholarship or grant.
- The grantor requires you to pursue studies, research, or other activities mainly for the benefit of the grantor.
- The scholarship or grant has a condition that you perform past, present, or future services for the grantor.
- The services you perform are subject to the direction or supervision of the grantor.
How does the sale of business property affect your taxes? Learn about property classifications and get tax answers at H&R Block.
Learn more about the average cost basis method of selling shares and get tax answers at H&R Block.
Uber and Lyft drivers must file self-employment income taxes. Learn more with the tax experts at H&R Block.
If you're working a summer job, how can you tell if you're exempt from federal withholding? Learn more at H&R Block.