Question: Can a scholarship qualify as support? Question content area bottom Part 1 A . Yes , a scholarship qualifies as support. All tax - exempt

Can a scholarship qualify as support?
Question content area bottom
Part 1
A.
Yes, a scholarship qualifies as support. All tax-exempt income qualify as support and scholarships must be included as support when deciding whether the parent provides over half of the child's support.
B.
It can be. Scholarship recipients will receive Form1099-Q, which indicates whether or not scholarships awarded are considered taxable income.
C.
Scholarships generally do qualify as support, but an exception exists for a scholarship received by the taxpayer's child. Parents may ignore a child's scholarship in determining whether they provide over half of the child's support(or whether the child provided more than half of his or her own support).
D.
No, a scholarship does not qualify as support. A scholarship can't ever be included as support when deciding whether the parent provides over half of the child's support.

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!