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Scholarships Taxability
A scholarship is part taxable and part not, according to the award, if it goes for your books, fees, and/or equipments you will not have to pay taxes; but if it goes for your room, and/or any other stipend for living you will have to pay taxes.
The amount of taxes could change, depending on the kind of candidate;
- Non-degree; any financial aid will be subjected to federal taxes in the total amount, including educational expenses.
- Degree; course-related expenses do not pay federal income taxes, but living expenses and non-required expenses must pay taxes.
- Services; most of the universities use the teaching and research services, which are taxable; but some other use the payment-for-services restrictions making teaching duties part, of the educational program.
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