A student is 4 year degree student with WGU and he received Pell grant $ 2908 + WA state need grant - $2810 = Total $5718.
Tuition with WGU was only $3035 for 6 months (that includes books and other fees) term and remaining amount of $2683 was paid to him as refund.
To my understanding this refund money he got is considered taxable income because it was not for qualified expense like Tuition etc.
Once he declare this extra refund he got from his school he can get American opportunity credit correct?
Tuition with WGU was only $3035 for 6 months (that includes books and other fees) term and remaining amount of $2683 was paid to him as refund.
To my understanding this refund money he got is considered taxable income because it was not for qualified expense like Tuition etc.
Once he declare this extra refund he got from his school he can get American opportunity credit correct?
Federal Taxes: Are Scholarships and Grants Taxable Income for the American Opportunity Credit
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