Do I have to tell the IRS that I was a student?
I know this question seems backwards, because most people obviously want to tell the IRS that they were students so that they can get a bigger tax refund.
However, my wife and I were very fortunate and had all of our educational expenses paid for by Scholarships & Grants, so I don't think we would be getting any additional refund.
Do I legally have to tell the IRS that I was a student? I just don't want to go through the trouble of declaring all the scholarships & expenses just to show that they cancel each other out.
united-states taxes income-tax college
edited 4 hours ago
Chris W. Rea
26.5k1586174
asked 4 hours ago
setholopolussetholopolus
1083
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I know this question seems backwards, because most people obviously want to tell the IRS that they were students so that they can get a bigger tax refund.
However, my wife and I were very fortunate and had all of our educational expenses paid for by Scholarships & Grants, so I don't think we would be getting any additional refund.
Do I legally have to tell the IRS that I was a student? I just don't want to go through the trouble of declaring all the scholarships & expenses just to show that they cancel each other out.
united-states taxes income-tax college
edited 4 hours ago
Chris W. Rea
26.5k1586174
asked 4 hours ago
setholopolussetholopolus
1083
New contributor
setholopolus is a new contributor to this site. Take care in asking for clarification, commenting, and answering.
Check out our Code of Conduct.
3
Are the funds related to the grants and scholarships considered income? Do the grants and scholarships total to an amount above the annual minimum threshold to file a tax return? Being a student has nothing to do with it...
– quid
4 hours ago
1
It's government. Government is the ultimate creator of redundant useless paperwork, and they have the authority to enforce their silly requirements. Play safe, or ask a tax expert rather than strangers on the internet.
– pojo-guy
4 hours ago
add a comment |
I know this question seems backwards, because most people obviously want to tell the IRS that they were students so that they can get a bigger tax refund.
However, my wife and I were very fortunate and had all of our educational expenses paid for by Scholarships & Grants, so I don't think we would be getting any additional refund.
Do I legally have to tell the IRS that I was a student? I just don't want to go through the trouble of declaring all the scholarships & expenses just to show that they cancel each other out.
united-states taxes income-tax college
edited 4 hours ago
Chris W. Rea
26.5k1586174
asked 4 hours ago
setholopolussetholopolus
1083
New contributor
setholopolus is a new contributor to this site. Take care in asking for clarification, commenting, and answering.
Check out our Code of Conduct.
I know this question seems backwards, because most people obviously want to tell the IRS that they were students so that they can get a bigger tax refund.
However, my wife and I were very fortunate and had all of our educational expenses paid for by Scholarships & Grants, so I don't think we would be getting any additional refund.
Do I legally have to tell the IRS that I was a student? I just don't want to go through the trouble of declaring all the scholarships & expenses just to show that they cancel each other out.
united-states taxes income-tax college
united-states taxes income-tax college
edited 4 hours ago
Chris W. Rea
26.5k1586174
asked 4 hours ago
setholopolussetholopolus
1083
New contributor
setholopolus is a new contributor to this site. Take care in asking for clarification, commenting, and answering.
Check out our Code of Conduct.
edited 4 hours ago
Chris W. Rea
26.5k1586174
asked 4 hours ago
setholopolussetholopolus
1083
New contributor
setholopolus is a new contributor to this site. Take care in asking for clarification, commenting, and answering.
Check out our Code of Conduct.
edited 4 hours ago
Chris W. Rea
26.5k1586174
edited 4 hours ago
Chris W. Rea
26.5k1586174
edited 4 hours ago
Chris W. Rea
26.5k1586174
26.5k1586174
asked 4 hours ago
setholopolussetholopolus
1083
New contributor
setholopolus is a new contributor to this site. Take care in asking for clarification, commenting, and answering.
Check out our Code of Conduct.
asked 4 hours ago
setholopolussetholopolus
1083
asked 4 hours ago
setholopolussetholopolus
1083
1083
New contributor
setholopolus is a new contributor to this site. Take care in asking for clarification, commenting, and answering.
Check out our Code of Conduct.
New contributor
setholopolus is a new contributor to this site. Take care in asking for clarification, commenting, and answering.
Check out our Code of Conduct.
setholopolus is a new contributor to this site. Take care in asking for clarification, commenting, and answering.
Check out our Code of Conduct.
3
Are the funds related to the grants and scholarships considered income? Do the grants and scholarships total to an amount above the annual minimum threshold to file a tax return? Being a student has nothing to do with it...
– quid
4 hours ago
1
It's government. Government is the ultimate creator of redundant useless paperwork, and they have the authority to enforce their silly requirements. Play safe, or ask a tax expert rather than strangers on the internet.
– pojo-guy
4 hours ago
add a comment |
3
Are the funds related to the grants and scholarships considered income? Do the grants and scholarships total to an amount above the annual minimum threshold to file a tax return? Being a student has nothing to do with it...
– quid
4 hours ago
1
It's government. Government is the ultimate creator of redundant useless paperwork, and they have the authority to enforce their silly requirements. Play safe, or ask a tax expert rather than strangers on the internet.
– pojo-guy
4 hours ago
3
3
Are the funds related to the grants and scholarships considered income? Do the grants and scholarships total to an amount above the annual minimum threshold to file a tax return? Being a student has nothing to do with it...
– quid
4 hours ago
Are the funds related to the grants and scholarships considered income? Do the grants and scholarships total to an amount above the annual minimum threshold to file a tax return? Being a student has nothing to do with it...
– quid
4 hours ago
1
1
It's government. Government is the ultimate creator of redundant useless paperwork, and they have the authority to enforce their silly requirements. Play safe, or ask a tax expert rather than strangers on the internet.
– pojo-guy
4 hours ago
It's government. Government is the ultimate creator of redundant useless paperwork, and they have the authority to enforce their silly requirements. Play safe, or ask a tax expert rather than strangers on the internet.
– pojo-guy
4 hours ago
add a comment |
1 Answer
1
active
oldest
votes
Your school files a 1098-T with the IRS, reporting the tuition paid and scholarships/grants received.
Therefore, you will have to account for scholarships and grants, especially qualified educational expenses outside of the school that were paid for by these grants.
In general, the IRS does not have "useless" paperwork, but consistently requires that both sides of a transaction report it. This prevents one party unilaterally hiding income.
answered 3 hours ago
user71659user71659
1,438510
add a comment |
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Your school files a 1098-T with the IRS, reporting the tuition paid and scholarships/grants received.
Therefore, you will have to account for scholarships and grants, especially qualified educational expenses outside of the school that were paid for by these grants.
In general, the IRS does not have "useless" paperwork, but consistently requires that both sides of a transaction report it. This prevents one party unilaterally hiding income.
answered 3 hours ago
user71659user71659
1,438510
add a comment |
Your school files a 1098-T with the IRS, reporting the tuition paid and scholarships/grants received.
Therefore, you will have to account for scholarships and grants, especially qualified educational expenses outside of the school that were paid for by these grants.
In general, the IRS does not have "useless" paperwork, but consistently requires that both sides of a transaction report it. This prevents one party unilaterally hiding income.
answered 3 hours ago
user71659user71659
1,438510
add a comment |
Your school files a 1098-T with the IRS, reporting the tuition paid and scholarships/grants received.
Therefore, you will have to account for scholarships and grants, especially qualified educational expenses outside of the school that were paid for by these grants.
In general, the IRS does not have "useless" paperwork, but consistently requires that both sides of a transaction report it. This prevents one party unilaterally hiding income.
answered 3 hours ago
user71659user71659
1,438510
Your school files a 1098-T with the IRS, reporting the tuition paid and scholarships/grants received.
Therefore, you will have to account for scholarships and grants, especially qualified educational expenses outside of the school that were paid for by these grants.
In general, the IRS does not have "useless" paperwork, but consistently requires that both sides of a transaction report it. This prevents one party unilaterally hiding income.
answered 3 hours ago
user71659user71659
1,438510
edited 3 hours ago
answered 3 hours ago
user71659user71659
1,438510
answered 3 hours ago
user71659user71659
1,438510
answered 3 hours ago
user71659user71659
1,438510
1,438510
add a comment |
add a comment |
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3
Are the funds related to the grants and scholarships considered income? Do the grants and scholarships total to an amount above the annual minimum threshold to file a tax return? Being a student has nothing to do with it...
– quid
4 hours ago
1
It's government. Government is the ultimate creator of redundant useless paperwork, and they have the authority to enforce their silly requirements. Play safe, or ask a tax expert rather than strangers on the internet.
– pojo-guy
4 hours ago