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Educational grant money

Forum|Forum|7 years ago
March 13, 2019
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"My son is 26 and received $5000 dollars in grant money from a private organization for his studies in Scotland. He did use that money for school, but the organization is telling him to count that as income. If it is not income, because it was used for school, he qualifies as my dependent. If it is income, he does not qualify as a dependent. The organization is not providing any paperwork."

Best answer by NCPERSON1

https://ttlc.intuit.com/questions/1901069-are-my-scholarships-fellowships-or-grants-taxable/amp

https://www.irs.gov/taxtopics/tc421

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NCPERSON1

It’s too broad to say he used it for school

What specifically?

https://ttlc.intuit.com/questions/190106-are-my-scholarships-fellowships-or-grants-taxable

Be careful if there is already a 1098T that the same expenses aren’t being covered twice . Basically, if this $5000 plus box 5 of 1098T is less than Box 1, then it is not taxable

Turbo tax will walk you through all this

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DavidBAuthor

He used the money for tuition at a university in Scotland. As I said, the organization that gave the grant isn't providing any tax paperwork, just saying to count it as income.

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NCPERSON1

Your initial response did not say it was for tuition , just “school” which could include room and board which is not a qualifying expense

Did you receive a 1098t from any other universities?

Please confirm you read the link

Do you have invoices documenting the tuition exceeds $5000?