<p>I've realized about $5-700 of my combined scholarship and grant is considered taxable when I did the following calculations</p>
<p>Total grant+scholarships(not including loans and work study)
- Total tuition and education expenses and mandatory fees, books( not including room a nd board, living expense, etc)
= ~$5-700</p>
<p>Problem is that I didn't really realize this when I renewed my fin aid. Now I have submitted fafsa, CSS, and my school's forms, and student non tax filing form. </p>
<p>Should I go back and change it? Is this small discrepency worth worrying about?</p>
<p>Hello again. Was your total income including the taxable scholarship high enough to require you to file a tax return? If not you do not have to file.</p>
<p>What is the benchmark line in which income has to pass over for me to file a tax return? Im guessing work study does not factor into it so my total income including the scholarship/grant portion would be under 1k for the purposes of filing the renewal financial aid. </p>
<p>Also, my parents still file me as a dependent on their income tax returns</p>
<p>Work Study *does *factor into it as work study is taxable. A dependent is required if earned income is $5350 or above (the scholarships are considered earned income for tax purposes). So unless your total earned income was over that you do not need to file (unless there was unearned income over a certain amount).</p>
<p>If taxes were deducted from your WS you can file anyway to get the tax refund.</p>
<p>ok thanks I will look into this. At the moment I dont think I need to file but I will doublecheck</p>