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Are Swarthmore Foundation grants taxable?

April 26, 2017foundation Grants swarthmore taxable

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Are Swarthmore Foundation grants taxable?

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Yes. Swarthmore Foundation grants are treated as scholarships, a form of personal income, and are taxable as such. You should claim it on your tax return, and you are solely responsible for any taxes incurred. The College’s Financial Aid Office provides tax preparation assistance for students.