student loans and Grants
Last year I recieved student loans and Grants. But taxes
were not taken out. Does that mean that I do not have to
include it on my taxes? If I do, where do I put it and what
forms do I need to send with my taxes for it? I did not
recieve any forms about my loans for tax purposes but my
Grant information is included on my 1098-T form that
includes my paid tuition.
- You don't report student loans. Loans are not taxable
income as they are subject to repayment.
Provided you are a candidate for a degree, scholarships and
grants are tax-free up to the amount you paid in tuition,
books, and fees. It doe