<p>Hello,</p>
<p>I received a private scholarship for my 2012 fall quarter but did NOT spend it until a few days ago. Since I did not spend it during 2012 do I need to include it to my “Wages & Salary” when filing my Taxes and filing out FASFA?</p>
<p>Scholarships and grants are only taxable if the total amount received in 2012 exceeded the sum of the amounts paid for tuition, mandatory fees and required books and supplies in 2012. Is that the case? It doesn’t matter when you spent the scholarhip, it only matters when it was received and when the bills were paid.</p>
<p>Oh okay, thanks a lot! That answers that question.</p>