vivian0429
Junior Member
What is the name of your state?California
I am a junior in college and have always done my own taxes. Since i don't know much about them, every year i try and answer all questions to the best of my knowledge. My question is how does financial aid figure into my income. My entire school at the UC is basically paid for by grants, scholarships, and one loan. I'm scared if i include this in my income it will look like i'm making a bunch of money when in fact all my financial aid goes to schooling, supplies, books, rent, etc. How do i handle this situation, and can i get in trouble for not including financial aid as a source of income on previous tax returns. What does it mean to Claim something, and how does financial aid figure into my income tax returns? Please Help!
I am a junior in college and have always done my own taxes. Since i don't know much about them, every year i try and answer all questions to the best of my knowledge. My question is how does financial aid figure into my income. My entire school at the UC is basically paid for by grants, scholarships, and one loan. I'm scared if i include this in my income it will look like i'm making a bunch of money when in fact all my financial aid goes to schooling, supplies, books, rent, etc. How do i handle this situation, and can i get in trouble for not including financial aid as a source of income on previous tax returns. What does it mean to Claim something, and how does financial aid figure into my income tax returns? Please Help!