Does money from a Pell grant need to be filed as income on a tax return?

Question

I am currenty attending school full time and taking care of my baby girl. I am not working. I am declared as a independent student and my family contribution to the FAFSA is zero. I started receiving money from the PELL grant in June of 2006. The PELL grant was my only source of income last year. Now that it is tax time, I need to know if I am supposed to file that money on my tax return? Am I supposed to report that money as income?

Answer 1

Nope, absolutely not. Now, if you have student loans, you may want to hang on to the tax forms you get from that; the accruing interest can be used on your taxes.