I started going to community college in order to transfer to a University. I am currently not trying to get a degree at the community college but I am from the University.
I qualified for a reduced tuition at my community college totaling a whopping $44 ($20 of which was for the spring semester coming up). My books cost me $456.41 (none of which I bought from my school, all of which where required textbooks), and I got a $522.19 laptop (It isn't technically required by my teachers, but I have some online classes).
For the 2012 - 2013 school year I got a $5882 grant from the Feds, and 250 from the State. (only $3382 of the Fed grant has been given to me, the rest is for the spring semester which will fall under next years taxes [I believe]).
My question is how much of the scholarship money will I have to pay taxes on?
Bonus: Are there any deductions I should know about?
These seem relevant, but I don't quite understand what it means for an expense to be "required" from a school, or what it means to have to be "eligible for a degree"...
Incase this is important
I started working late this summer at a low wage and have so far made $3545.16 (this will be a bit above 4k by the end of the year). So far $502.14 has been withheld.
If I missed something important please let me know and I will try to respond as soon as possible.