<li><p>Are grants received by a student considered as taxable income? Is a 1099 sent? My son will enter freshman year in Sept so we don’t know about this.</p></li>
<li><p>There is a question on the student income section of the FAFSA which asks about “j) Money received, or paid on your behalf (e.g., bills), not reported elsewhere on this form.” Do we need to include the tuition I have paid for my son in this question?</p></li>
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<li><p>Grant or scholarship money used for tuition, fees, and other qualified college expenses (NOT room & board) is tax free. Grant or scholarship money above that amount is taxable. You'll get a 1099 from the school that will help figure it out.</p></li>
<li><p>No.</p></li>
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<p>It will be a 1098T, not a 1099. And it will somewhat help you figure it our but it is very important, in my opinion, to read the education tax rules in IRS970 so that you understand all the tax options and choose the one that gives you the best benefit.</p>