Personal Finance & Money Stack Exchange
Personal Finance & Money Stack Exchange

Questions tagged [scholarship]

32 questions
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529 vs IRA for kids education and future scholarship

I have young kids going in preschool. I have already started investing in 529. However, many of my friends mention that if I invest single penny in 529 plan for my kids, they will miss out on any scholarships they may be eligible to in future.…
msgboardpana
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Scholarship Tuition Reimbursment

I recently received a military scholarship which covers all of my tuition and housing at my university. The military will be back-paying the costs, so the university will send a check that reimburses the amount that my parents paid out of a tuition…
BibleFace
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Is there any reason I'd prefer having my school not report a 1098-T?

I didn't get a 1098-T from my school this year. I contacted them about it, and they said it wasn't required in my case, but they went ahead and issued it anyway since I asked. They also told me they could cancel that (and not send it to the IRS),…
argentum2f
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5
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College Debt/Collections

I graduated from a community college in Alabama 10 years ago on scholarship. I receive a call from an attorney a few months ago regarding unpaid tuition/fees from this particular college.He is extremely rude and demanding. I call the college out of…
user51161
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Is a fellowship grant for research automatically "for personal services", and thus wages?

(I would like to note beforehand that I am not discussing the taxability of a scholarship or fellowship here. This is purely about finding the right category for some certainly taxable income, for example, for a researcher who is not a degree…
bers
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Is scholarship tax free next to a salary?

Last year I received a six months research scholarship from DAAD within a collaboration with a Germany university. The total grant was around 21550 Euros. At the same time I was receiving my monthly wage from the USA. A scholarship in Germany is tax…
Kicsi Mano
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What tax year do I claim a fellowship if it is on both the 2017 1098-T and the 2018 1042-S?

Note: I am an international student and receive a yearly 1042-S. I got a fellowship in November 2017 but my University did not distribute the money until January 2018. Because I am an international student, federal and state taxes were taken out of…
Charlie
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3
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1 answer

529 Funds and Scholarship Refunds

I have a unique situation with my college billing: For a handful of semesters at a local community college, I had to pay for my schooling (nothing special there), and I continued to do so like normal as the semesters continued. I paid for these…
Display Name
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3
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What are the tax implications for leftover financial aid and scholarship money?

Previous semester as an undergraduate student, I won a pretty big scholarship from my university. So, along with the Pell Grant and other state grants/scholarships, that amount was also applied to my tuition and book fees this semester, and the rest…
ARJ
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Can public scholarship holders in Germany invest in stock market without losing their scholarship?

In Germany, if a person (a German national or not) receives a public scholarship (i.e funded by the government), they cannot earn more than 400Euros addition to the money they are getting from the scholarship. Now, I have made some savings prior to…
Our
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My fellowship income was reported in Box-7 of 1099-MISC. How do I report it?

I am a grad student, and am supported by a living stipend from a government supported fellowship program. The contracted company managing this program sent everyone MISC-1099 forms, and reported the stipend payments in box 7. The tax program I'm…
argentum2f
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Why is the room and board portion of scholarships taxable?

As the federal tax return deadline approaches, I am starting to plan for taxes. However, I don't understand why the room and board expenses in a scholarship are taxable. I am an independent student who doesn't have any income and receives a…
Skipher
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Receive Multiple Grants?

Is it possible to receive multiple grants? I was approved for a TAP grant. But is it possible to also get a Pell grant, FSEOG grant, LEAP?
whitewings
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How much will I potentially receive from grants?

After reading this question which gives a general overview of strategies of how to pay for college, it wasn't clear to me exactly how much "a dent in what you'd pay" could be, particularly in the case of grants or "free money". My Situation I live…
CaptainObvious
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Does scholarship money count as earned income? (Specifically for Line 29, Form 6251, exemption for AMT)

The instructions for Form 6251 include a worksheet for calculating Line 29. Line 8 of that worksheet asks for "earned income". The instructions state "Earned income includes wages, tips, and other amounts received for personal services performed."…
nkm
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