<p>I figured here would be a good place to ask.
I received like $4,000 in financial aid last year and my tuition was around $2,500.</p>
<p>Also, I received a financial aid book voucher for my school bookstore (part of the pell) but I didn’t use it because I bought my books much cheaper online. The school added up what I didn’t use for books (Which was the full amount of the book voucher) and the extra tuition money from the pell grant and gave it to me in the form of a $1,500 check. </p>
<p>I must file this as income on my taxes, correct?
If so, where would I put it on the 1040a?</p>
<p>Lastly, since I did use about $800 on books but didn’t do it through the school do I still have to file the check that they gave me as $1,500 or can I file it as $700 since I did pay for books? I can provide receipts if it ever came down to it…</p>
<p>Your best option is to consult your local IRS Office (which will offer free and correct information) or talk with a tax preparer in your area (may not be free).</p>
<p>The publication for education tax information is IRS 970. Pages 5-7 are about the taxability of scholarships and how to report those that are taxable.</p>
<p>The IRS has a free file option on their website. You choose an online software provider and their program walks you through preparing the return and helps you file it online</p>