Is work-study income taxable — Or is federal work-study tax exempt income if I’m a full-time student?
Since your work-study program income is a taxable scholarship, you must report the income on the wages line of Form 1040.
You don’t have to include in your income the part of any scholarship or fellowship that’s payment for teaching, research, or other services if you receive the amount under the:
- National Health Service Corps Scholarship Program
- Armed Forces Health Professions Scholarship and Financial Assistance Program
For scholarship, fellowship or federal work-study tax exempt status, you must also:
- Be a degree candidate at an eligible educational institution
- Use the part of the scholarship or fellowship you don’t include as income to pay qualified education expenses
Have other student tax filing questions? Be sure to visit our Tax Guide for College Students and find out about student forms that can be filed for free.
Is the money you received considered a gift or inheritance? Learn more from the tax experts at H&R Block.
What are the implications on your taxes if you received too much in unemployment benefits and had to repay? Learn more from the tax experts at H&R Blo
Do you need to report every stock trade on a Schedule D for tax purposes. Learn more from the tax experts at H&R Block.
Learn more about combat pay exclusions and get tax answers at H&R Block.