Hi, I received a scholarship for 900$. I am wondering if I have to set aside money if its taxed.
I would also like to put it into HYSA until payment is due for the spring semester, just to earn some extra cash through interest. Thanks for reading, I can provide more info if needed!
Is my scholarship money taxed? Can I put it into a HYSA?
byu/planeguy109 intax
Posted by planeguy109
3 Comments
Scholarship money is typically sent directly to the school.
Scholarships are generally not taxed unless the total received exceeds the cost of attendance. In your case it appears that it will not be taxed.
What other income will you have in 2025?