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What are Pell Grants?

So, I just found out that the Pell grants is taxable. I haven't reported them for the last 3 years, what now?

  • Will I be hunted down!?!? lol, yea, i don't know what happens when you mess up like that. Anyone know what happens? Can I fix it somehow.... UGH, why?!? Is it really taxable!? The pell grant is apparently a scholarship, which is taxable, depending on other factors... What I'm unsure of... ugh... Also, is the Cal grant taxable? UGH! I hate this time of year, so many words in thick language!

  • Answer:

    wait really? i havent reported them either... sorry i dont have an answer :( i just googled it e how says: Is The Pell Grant Taxable? As long as the Pell Grant has been used for your educational expenses and other expenses related to your education, the grant isn't taxable income. Read more: Are Pell Grants Taxable? | eHow.com http://www.ehow.com/facts_4922579_pell-grants-taxable.html#ixzz1omIgSwLF

Lily at Yahoo! Answers Visit the source

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Other answers

It's not income, so no it's not taxable.

Supercell

It's not taxable.

Ghost In A Trench Coat

Use the money for school like you're suppose to and its not taxable. Any amount refunded and not used for educational purposes is taxable.

denali_xl_06

99.9% of the time it's NOT taxable. Don't worry about it.

just not that

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