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18 views

Can a Canadian citizen claim tax-exemption on a U.S. scholarship intended for travel costs?

I am a Canadian citizen, and have received a scholarship of $750 from a U.S. institution to pay for lodging and travel costs. I am required to fill out a W-8BEN form, and I was wondering if I can ...
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1answer
63 views

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 ...
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1answer
48 views

Taxable scholarship is part of AGI. How do I calculate how much tax I have to pay?

I am filing taxes for the part time, and I don't know how much tax I have to pay. IRS says that taxable scholarship should be listed on the wages line, and this is eventually added to AGI. However, ...
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2answers
101 views

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 ...
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1answer
42 views

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?
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2answers
72 views

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 ...
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3answers
308 views

Can standard deduction lower my tax bracket?

I am an independent college student, and I will be living on campus starting next semester. I am aware that only tuition and required fees are considered as qualified education expenses and that the ...
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1answer
47 views

How can I find scholarships for college in my area?

There are tons of scholarship websites listed on Google, but they don't seen to contain the same data. Is there someplace I can go to view a more comprehensive database? I'm especially interested in ...