how to report Pell Grant as taxable income
My son attends college and if he reports his Pell Grant as taxable income it
looks like it would increase my tax credit. How does he write this on his income tax form? I think it is put under income, but do you write in SCH for scholarships
or PELL. I could find no information on how to do this. Also, can he use just part of a Pell grant as income, as doesn't need to claim all of it to increase credit on my taxes. This is a bit confusing. I thought about not going this route but likely would not get full credit on my taxes. I may have to go to a tax pro which I never had to for many years.