I am filling out my FAFSA for the upcoming academic year, and have questions regarding question 44d.
“Grant and scholarship aid reported to the IRS
Student grant and scholarship aid reported to the IRS in your adjusted gross income. Includes AmeriCorps benefits (awards, living allowances, and interest accrual payments), as well as grant and scholarship portions of fellowships and assistantships”
So is this the amount of financial aid I received or what? I’m very confused and tried figuring it out but can’t for the life of me get it. Any help would be greatly appreciated, thank you.
Did you file a tax return for 2014? If not, the answer is 0. If you did file a return, did you have to pay taxes on any of your scholarship/grant money (this would be on the same line where you enter your income from your W2)? If not, the answer is 0; if so, the answer is the amount of taxable scholarships/grants you reported on your tax return.
I did not, so I suppose it would be 0 then, thank you.
You did not file a return . . . but are you certain you weren’t required to? Depending on the amount of taxable scholarship monies you received, you may be required to file.
This is a question that stumps so many students! They often report that amount of scholarships/grants listed on their 1098T, rather than the amount that was taxable. “Most” students are not lucky enough to have enough free money that it’s taxable.