Welcome Guest. Register Now!  


For 2014 Tax Tips For Year 2014.


Reply
 
LinkBack Thread Tools Search this Thread Display Modes
  #1 (permalink)  
Old 02-12-2015, 08:40 PM
Junior Member
 
Join Date: Feb 2015
Posts: 1
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.



Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!Reddit! stumble!bookmark in google!Share on Facebook!
Reply With Quote
Ads
Reply


Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

vB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
What is Taxable or Non-Taxable Income? Samatg Income 5 01-12-2019 03:48 AM
How to claim more taxable income SCION7722 Income 2 01-13-2013 11:00 AM
1099-Education Grant mrosen Miscellaneous 1 06-04-2012 10:37 PM
IRS Announces 2011 VITA Grant Recipients Samatg Tax News 0 11-09-2010 06:08 PM
Would unemployment & disability income be taxable for NJ gross income tax purposes? TaxGuru New Jersey 0 10-03-2008 10:58 PM

Follow us on Facebook Follow us on Twitter Google Buzz Rss Feeds

» Categories
 
Individual
 » Income
 » IRA/Sep
 » Medical
 
Corporations
 » Payroll
 
Forum for CPAs
 
Financial Planning