IRS Reporting

[hunter1229]

I received Federal Pell Grant money and Florida Student Asst. Grant money for Spring 2017 and Fall 2017 classes. The college didn’t send a 1098-T form to me and when I look at my college account online it has a 1098-T form online but it states at the top this will not be sent to me or the IRS as the amounts do not req

[Gator88NE]

Taxes are a major pain. If you haven’t already, I recommend using something like Turbotax online, even if you don’t end up using it and paying for the product, it’s useful to get a sense of which forms you need. It will also answer many of your questions.

Do I need to report financial aid on my tax return?
Qualified education expenses include required tuition and fees and required course-related expenses. Any student aid that exceeds these expenses is taxable, even if the money is federal need-based aid. If your only income is tax-free scholarships, you don’t need to file your taxes.