Kelly receives a $40,000 scholarship to Ivy University. She uses $30,000 on tuition and books, $5,000 for
Question:
Kelly receives a $40,000 scholarship to Ivy University. She uses $30,000 on tuition and books, $5,000 for a used car, and $5,000 for rent while at school. Kelly will recognize _______ gross income.
a. $0
b. $5,000
c. $10,000
d. $30,000
e. $40,000
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Related Book For
Income Tax Fundamentals 2019
ISBN: 9781337703062
37th Edition
Authors: Gerald E. Whittenburg, Steven Gill
Question Posted:
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