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    Llane9638's Avatar
    Llane9638 Posts: 1, Reputation: 1
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    #1

    Jul 15, 2008, 07:02 AM
    Scholarship, Taxable?
    Are scholarships taxable to the student receiving them?
    MukatA's Avatar
    MukatA Posts: 7,110, Reputation: 176
    Tax Expert
    		  
    #2

    Jul 15, 2008, 08:05 AM
    If you are a degree candidate and if the financial aid (includes scholarship and fellowship) is for tuition fee, other fees, books, supplies and equipment, then it is not taxable. For a degree candidate aid for boarding and travel are taxable.

    If you are not a degree candidate, then all the financial aid is taxable.
    You must use Worksheet 1-1 in Chapter 1 of Publication 970 to figure out the taxable amount.
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