How do I report taxable income from financial aid?

Let’s learn how do I report taxable income from financial aid. The most accurate or helpful solution is served by swic.edu.

There are ten answers to this question.

Best solution

Requirement to Report Financial Aid as Taxable Income

Financial aid received in an amount greater than the cost of tuition, fees, books and supplies may be subject to income taxes. Retain all financial aid records to ...

swic.edu

Other solutions

How do I get financial aid? I'm 23 and still have to report my parents income - even though they aren't paying

I'm twenty three and I'm on unemployment (which about to run out) and I really want to take this chance to go to school, but I have to report my parents on my fasfa even ...show more

Answer:

Are you positive you have to report your parents? At the beginning they ask you a series of questions...

Read more

H4F53L7YAOOBXU6AA2ZWAJEX5Q at Yahoo! Answers Mark as irrelevant Undo

If I am 19 do I have to report my parents income for the Federal Student AId Application?

I do not want to have to include my parents income on my application for Federal student aid. Do I have to?

Answer:

All of the answers so far are wrong. Nowhere on the FAFSA does it ask if your parents claim you on their...

Read more

lil_ny_s... at Yahoo! Answers Mark as irrelevant Undo

Taxable income of financial aid and loans?

My total adding together my loan and financial aid (grants) the total is 15,408.50 my qualified tuition is 4,862.50 so do I have to report 10,546.00 as my income?

Answer:

Loans are not considered income. Generally, you will only have to report as income any amount of grants...

Read more

autumn97... at Yahoo! Answers Mark as irrelevant Undo

How does getting a room mate affect financial aid and tax preparation?

I am thinking of moving into a bigger apartment this summer and asking my friend to move in with me and be my roommate. However, my mom said that I would have to report my roommate's income as part of the household income. Since moving in will actually...

Answer:

will not have any bearing what so ever - sorry your mother is wrong!!!

Read more

Sunshine... at Yahoo! Answers Mark as irrelevant Undo

Questions about Financial Aid Verification Procress?

So I got chosen for verification..again. And I seem to have questions every time. On my FAFSA I did not report ant of my financial aid money as part of the income. On my verification worksheet it's asking me how much I had in 2009 in Financial Aid. I...

Answer:

If it is asking how much you got in aid, then you need to report how much you got in aid.

Read more

Kristin at Yahoo! Answers Mark as irrelevant Undo

Do I have to report my dad's finances on college financial aid forms if he has never paid child support?

I live with my mom in a different state. I rarely see my dad and he has never paid any child support. My mom files "Head of Household" on her taxes. Do I have to report my dad's income? My dad makes a lot of money, so it seems as if I did have...

Answer:

You put down the information of the parent who supports you at least 50%. Since your dad has never made...

Read more

Checkin' Things Out at Yahoo! Answers Mark as irrelevant Undo

If my parents are divorced, do i have to report both of their incomes when applying for financial aid?

My parents have joint custody, but I live with my mother and have little contact with my father. If I were to only report my mother's income, I would probably receive the aid that I really need to help with expenses. However, if I were to report both...

Answer:

from what i understand just the one you live with

Read more

Jessi at Yahoo! Answers Mark as irrelevant Undo

Related Q & A:

Just Added Q & A:

Find solution

For every problem there is a solution! Proved by Solucija.

  • Got an issue and looking for advice?

  • Ask Solucija to search every corner of the Web for help.

  • Get workable solutions and helpful tips in a moment.

Just ask Solucija about an issue you face and immediately get a list of ready solutions, answers and tips from other Internet users. We always provide the most suitable and complete answer to your question at the top, along with a few good alternatives below.