Are the grant funds considered taxable income?

Reporting requirements and taxes can vary between individuals and their specific situations. We recommend you speak to a tax professional, e.g. a Certified Public Accountant (CPA), tax lawyer, or tax preparation service, for guidance on how to report a receipt of grant funds when filing taxes.

The IRS offers an article which may help clarify the answer for your personal situation here. If you are still unsure, locate a local VITA site where you may reach out for clarification.

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