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Is the GI Bill Taxable?

The GI Bill is a widely used benefit offered to the men and women who serve in the United States military. GI Bill payments are monthly direct deposit payments that are paid directly to a student. These payments are not taxable.

  1. Untaxable Income

    • Montgomery GI Bill payments are considered by the Internal Revenue Service to be

      "untaxable income."

    FAFSA

    • While GI Bill payments are considered to be untaxable income, students must still report the payments as income on their Federal Application for Student Aid (FAFSA) to qualify for additional student aid.

    History

    • The first version of the G.I. Bill was enacted in 1944 to provide for World War II veterans.

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