Federal Tax

Exclusion of Scholarships and Other Receipts for Education (Portfolio 518)

  • The Portfolio, Exclusion of Scholarships and Other Receipts for Education, addresses several important income tax issues relating to educational costs. The first section of this

Description

Exclusion of Scholarships and Other Receipts for Education addresses several important income tax issues relating to educational costs.

Specifically, this Portfolio analyzes qualified tuition programs (Part III), Coverdell Education Savings Accounts (Part IV), interest on educational loans (Part V), penalty-free withdrawals from IRAs for amounts used to pay qualified higher education expenses (Part VI), and forgiveness of student loans (Part VII) and provides a discussion of information reporting requirements related to higher education tuition and related expenses (Part VIII).

Table of Contents

I. Introduction
II. Exclusion of Scholarships, Fellowships, and Other Receipts for Education
III. Qualified Tuition Programs
IV. Coverdell Education Savings Accounts
V. Interest on Educational Loans
VI. Penalty-Free Withdrawal from IRA
VII. Forgiveness of Student Loans
VIII. Information Reporting Requirements

Lisa_Starczewski
Lisa Starczewski
Shareholder
Buchanan Ingersoll & Rooney PC
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