NMF Scholarship and taxes

Longhaul
Wed, 26 Feb 2014 12:52:45 +0000

Looking at the Receivables Department timeline, I believe @FortunateDad is correct that both semesters housing was credited prior to 12/30.

FOR FALL 2014 NMF – Would be worth your time to contact Bama and request the Spring Housing not be credited until January going forward and explain the new tax laws may be taxed up to 25%.

@Lisa6191 – My job puts me in contact with many CPAs. Many are not up to speed on this (let’s face it, very few students have such generous scholarships), but once I explained the “change” from earned income to unearned income they all understood. If you decide to speak with a CPA, simplify the issue by telling them it is this change that is causing concern.