Are college grants taxable?

Answer If you are a college student working towards a degree, any grant funds not used for tuition, fees, books or supplies must be included as income that is taxable. If you are not working towards a deg... Read More »

Top Q&A For: Are college grants taxable

Are government grants taxable?

Whether or not a grant is taxable depends on the type of grant. Disaster relief grants are not taxable. Scholarship money and fellowship grant money may be exempt if the grant money is used to pay ... Read More »

Are pell grants taxable?

According to the IRS, Peel Grants are not taxable as long as they are used to pay tuition and other educational expenses during the grant period. Supplemental Educational Opportunity Grants and Gra... Read More »

Are student grants taxable?

It depends. Usually, any amount used from a grant for tuition, fees, books, supplies and equipment is not taxable. Anything not related to these fees that a grant pays for can be taxed.References:I... Read More »

Are federal Pell Grants taxable?

As long as the money is used for a qualifying expense, including tuition, fees, books and supplies, the amount of a federal Pell Grant is not taxable income. Pell Grants give money to financially n... Read More »