| Show Scholarships grants may be tax deduct able Trent Ladle Contributing Writer Recipients of scholarships or fellowship grants may be beable beable beable able to exclude from their income income income in in- come part or all of the amount they receive on their 1988 income tax Mrs Sap uta a Tax-payer Tax Service Representative for the Internal Revenue Service Service Service Ser Ser- Ser Ser- vice says that any money received by y scholarship or grant is not taxable if the money is used for educational education education- al expenses This includes tuition tuition tuition tui tui- tui- tui tion student fees books and supplies continued by saying that any money used for housing food and transportation is considered earned income and is tax tax- able A student can exclude scholarships and grants for their earned income only if they are a seeking degree-seeking stu stu- stu- stu dent Sap uta explained that a seeking degree-seeking st student dent is one who is planning on two or four years of college to obtain a degree A student who attends attends attends at at- tends a trade school that puts him right into a vocation is not considered to be degree- degree seeking If any students have questions questions questions ques ques- concerning their scholarships or grants or just need help filing their 1988 tax return they can talk to a to receive free assistance at 1 Further assistance is available in IRS Publications 17 and These publications plus others are available at the theIRS theIRS theIRS IRS building in Salt Lake City at South East The building is open Monday through Friday from 8 am a.m. to pm p.m. |
