Ask Experts Questions for FREE Help !
Ask
    gambit90's Avatar
    gambit90 Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Apr 11, 2009, 09:55 AM
    Are Overseas Scholarship Given Special Exemptions?
    I am a US citizen. I am currently receiving a scholarship from Saudi Arabia to attend a university in Saudi Arabia. Some of the scholarship funds are not spent on qualified expenses. Do these funds receive any special exemption since they come from overseas? Does it matter that I am overseas?
    MukatA's Avatar
    MukatA Posts: 7,110, Reputation: 176
    Tax Expert
    		  
    #2

    Apr 11, 2009, 10:34 AM

    Same treatment as scholarships in the U.S. 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. Read scholarship and fellowship grants, Your U.S. Tax Return: The U.S. Income Tax Topics 1
Not your question? Ask your question View similar questions
 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

How many exemptions are allowed on home based business. Is it up to 9 exemptions? [ 3 Answers ]

Trying to get information on the number of exemptions can be claimed on a home based business. Can a home based business claim 9 exemptions?

F1 to EAD/OPT: Tax Exemptions [ 1 Answers ]

Hi. Here's the situation: 1. Student on F1 in SC from Aug 2005 to Aug 2007. Received W2 from University 2. Working with New Employer in MD from Aug 2007 to Dec 2007 on EAD/OPT.

W4 Exemptions [ 2 Answers ]

Hi there, My name is Judi and I have a double barreled question. My fiancé and I are considering whether we should get married before the end of the year. My first question has to do with him. He owns a $530,000 home and is claiming only 3 on his exemptions. Question 1: If he makes 125k...

How many exemptions should I take with a new job [ 2 Answers ]

I am taKing anew job in Florida for less money. Currently I take six exemptions how many should I take now?

View more questions Search