Comments for Insurance Loans Mortgages http://insurance-loans-mortgages.com Money questions and answers! Thu, 24 May 2012 13:30:51 +0000 hourly 1 http://wordpress.org/?v=3.3.2 Comment on I have no income only grants and student loans, do I have to file taxes? by Rob http://insurance-loans-mortgages.com/13616/i-have-no-income-only-grants-and-student-loans-do-i-have-to-file-taxes/comment-page-1/#comment-17944 Rob Thu, 24 May 2012 05:20:26 +0000 http://insurance-loans-mortgages.com/?p=13616#comment-17944 Based on the information that you provided you would not have a requirement to file a Federal Tax return, Scholarships and Grants are not considered Taxable income. Nor are they considered Earned Income for the EIC Qualified scholarships and fellowships are treated as tax-free amounts if all of the following conditions are met: You are a candidate for a degree at an educational institution, Amounts you receive as a scholarship or fellowship are used for tuition and fees required for enrollment or attendance at the educational institution, or for books, supplies, and equipment required for courses of instruction, and The amounts received are not a payment for your services . Publication 970 Based on the information that you provided you would not have a requirement to file a Federal Tax return, Scholarships and Grants are not considered Taxable income. Nor are they considered Earned Income for the EIC

Qualified scholarships and fellowships are treated as tax-free amounts if all of the following conditions are met:

You are a candidate for a degree at an educational institution,
Amounts you receive as a scholarship or fellowship are used for tuition and fees required for enrollment or attendance at the educational institution, or for books, supplies, and equipment required for courses of instruction, and
The amounts received are not a payment for your services
.
Publication 970

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