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KJL LAW
KJL LAW, Lawyer
Category: Education Law
Satisfied Customers: 1015
Experience:  Attorney at law Office of KJLLAW
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How do I know what portion of scholarship /grant money went

Customer Question

How do I know what portion of scholarship /grant money went towards room and board
Submitted: 1 year ago.
Category: Education Law
Expert:  KJL LAW replied 1 year ago.

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If your only income is a tax-free scholarship or fellowship, you’re in the clear. You don’t have to file a tax return or report the award if you are a candidate for a degree at an educational institution that maintains a regular faculty and curriculum and normally has a regularly enrolled body of students in attendance at the place where it carries on its educational activities; and the amounts you receive are used to pay for tuition and fees required for enrollment or attendance at the educational institution, or for fees, books, supplies, and equipment required for courses at the educational institution.

However, you must include in your gross income the amounts used for incidental expenses, such as room and board, travel, and optional equipment, or the amounts received as payments for teaching, research, or other services required as a condition for receiving the scholarship or fellowship grant.

Exception to the above, which you do not need to include in gross income, are any amounts you receive for services that are required by the National Health Service Corps Scholarship Program or the Armed Forces Health Professions Scholarship and Financial Assistance Program.

I hope this helps you with your question.

Customer: replied 1 year ago.
This does not help me at all. On my tax form it asks what portion of the scholarships / grants were used for room and board. They are using student loans also and all payments are sent to the school as one payment. There is no break down as to what went where
Expert:  KJL LAW replied 1 year ago.

The school would have a break down of what dollar amount was given is scholarships and loans and how each was apportioned to your tuition, room and board, etc. You cannot guess on the amounts, and you need to inquire further with the school.