Taxable Scholarship Income

[4kidsdad]

<p>You should always file your tax returns. The state return often has a lower threshold than the federal return.</p>

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but do I have to report the $3500 on the FAFSA somewhere?

See <a href=“http://talk.collegeconfidential.com/financial-aid-scholarships/468671-fafsa-help-putting-scholarships-grants-etc-fafsa.html[/url]”>http://talk.collegeconfidential.com/financial-aid-scholarships/468671-fafsa-help-putting-scholarships-grants-etc-fafsa.html&lt;/a&gt;

@swmcatsmom

On FAFSA the taxable portion of scholarships/grants is included in your AGI from your tax return. You show the amount included on the worksheet so that it will be deducted from your AGI so as not to negatively affect your financial aid. ie the FAFSA formula will exclude the taxable scholarships when calculating your EFC.

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