Cindy was awarded a $6,000 scholarship to attend the state university. She spent $4,000 for tuition, $500

Question:

Cindy was awarded a $6,000 scholarship to attend the state university. She spent $4,000 for tuition, $500 for required textbooks, and $1,500 for room and board. She works part-time on campus earning $5,000, which covers the balance of her room and board and other expenses. How much must Cindy include in her gross income?
a. $0
b. $5,000
c. $6,500
d. $7,000

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

Taxation For Decision Makers 2019

ISBN: 9781119497288

9th Edition

Authors: Shirley Dennis Escoffier, Karen A. Fortin

Question Posted: