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State aid would not be taxable income that you would report on your income tax return.
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∙ 14y ago
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DO you file taxes if you get state aid?
Yes when you have taxable income you would file a federal and state income tax return.
Do you pay taxes on financial aid?
No, you do not pay income taxes on student loans because they are debt. You do however need to look into Grants as the laws are different for free money. You do not pay taxes on a LOAN, because it has to be paid back, so it is not income.
Do student grants have to be reported on income taxes?
ususally that would be no as financial aid is not considered taxable income
Does a parent's income count against 17-year-olds applying for financial aid for students?
Yes, a parent's income does count when a 17-year-old is applying for financial aid for students. The Free Application for Federal Student Aid (FAFSA) requires information about the parent's income and financial situation to determine the student's eligibility for federal student aid.
How do I file taxes on income I made as an Adult home care aid?
You need to claim your income as being self-employed
Can you take out student loans if your parents have unfiled income taxes?
You can but as soon as your parents file their taxes you will have to amend your FAFSA application and it may alter the amount for which you are eligible in student financial aid.
Can you use federal financial aid as a source of income for a loan?
No, that is getting a loan with a loan. If anything it will count against your credit worthiness.
Is there legal aid for low income single fathers?
Yes, there is legal aid for low income fathers and mothers. The Legal Aid Foundation offers free or income adjusted legal aid for a variety of people.
Can you file for income tax using financial aid as an income?
No you cannot due to the fact of it being tax free because its from taxes and financial aid is not a earned income its a gift. The above is hogwash. There are many types of financial aid. I am unaware of any that are considered a gift, although that in itself would make little difference as gifts are normally taxable. ALL INCOME IS TAXABLE, not just earned income. Depending on the type of financial aid, the one giving it can provide details on how they will report it, and combinned with your other taxation factors 9marital status, dependents, other income, etc), will determine if it is taxable and if you actually pay tax on it.
Will the IRS send you the taxes collected on your behalf for child support?
Yes, unless you've been on state aid, than they get it.
What service does Farm Aid provide?
Is there money avaible for small farmers to pay back taxes.I'm behind 3 years on taxes and face loosing my farm. At this time I have no income.
Aid awarded based on family income is what kind of aid?
Need-based Aid
