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Old 03-19-2017, 09:08 PM
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Taxes on scholarships and grants

Hello. I am a student at a university and I receive grants and scholarship to pay my tuition. My university's tax form shows that I received about $10,000 in grants. However, only $6000 of them are shown as used, the remaining $4000 are not used. This is due to a fact that I took the winter 2017 semester off. My accountant told me that I might have to pay taxes on this amount of money that I supposedly did not use. However, those money are still in my college account, not directly in my hands. I am confused and don't know how to let IRS know that I didn't take the remaining money. Do you think they will still go ahead and tax me because I didn't use the remaining grants on the winter semester? I didn't even get a refund.



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