How do taxes work for grants, scholarships, etc. (i.e., monies obtained to do artwork)?
Generally, the grant or scholarship received would be taxable. In most cases it makes sense to check with the grantor about the tax treatment of the grant, which should be outlined in the grant document. Scholarships are tax-free only if they are to a candidate for degree for payment of tuition, fees, books, supplies and equipment.
Related Questions
- Does the Angola Educational Assistance Fund provide financial assistance (grants, scholarships or fellowships)?
- Are there any scholarships available? Are there any provisions for grants, assistantships, or loans available?
- How do taxes work for grants, scholarships, etc. (i.e., monies obtained to do artwork)?
