Question $24$

$3$ pts

The taxpayer is a Ph$.$D$.$ student in accounting at the City University. The student is paid $$1,500$ per menth for teaching two classes. The total amount received for the year is $$13,500.$

The $$133,500$ is tanalyle compensation.

The Sea $500$ is cunsidered a sctholarsion and, therefore, is exduded.

The $$40500$ is excludible if the maneyis used to pay for tuition and bockes.

The $$13,500$ is exduded fromgrous income berause the total amount recrived for the year is lessithanlier standard dieduation.