Question by le368: Does a money sum received as personal injury compensation need to be included in a financial aid application?
A scholarship/financial aid application to a pre-college music school for our child requires you to include/show all non-taxable income, but our personal injury compensation does not fall under the category of income. (It is also non-taxable.) Need we mention it?
Best answer:
Answer by Suddenly Human
Yes it should be reported. “Income” means it came in – if you have it – obviously it came in!! ALL income and assets must be reported (no matter what the source) income is not defined by the SOURCE.
Hope this helps.
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