Question: IRC Section 117 provides that qualified educational scholarships are not

IRC Section 117 provides that qualified educational scholarships are not taxable in certain circumstances. Included in this exclusion are both scholarships and fellowship grants.
a. Use Section 117 and the related regulations to find definitions of the terms scholar-ship and fellowship grant and provide precise citations to the code and/or regulation sections containing these definitions.
b. In your own words, explain the distinction between a scholarship and a fellowship grant.

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  • CreatedNovember 03, 2015
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