I know it may be too soon to tell, my accountant wasn't too sure yet about ROTC or college scholarships if the new tax laws change what students must file for taxes this year. I was looking at the links for 'old' tax law, and it got me thinking if this has changed. Anyone know yet?
Curious about new tax laws if they affect ROTC scholarship filings
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I'm confident it hasn't changed but I haven't looked and cannot swear to it. ROTC tuition scholarships and stipends are not reported as income. This is also true for non-ROTC tuition scholarships and stipends, or has been in the past. I highly doubt they upended this for all students.
turtlerunnernc
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I don't know about the new laws, but I believe in the past if the scholarship was used for room and board it was taxable.
I am a CPA and I havent seen any changes to this. I cant be 100% beause most of the tax changes I have reviewed havent dealt with this type of income, but I dont think they played with this at all. I could be wrong but this is small numbers and there was no point in touching it