Question: Tamika received a $ 1 0 , 9 0 0 scholarship for the fall semester at Peanut University where she is a candidate for a

Tamika received a $10,900 scholarship for the fall semester at Peanut University where she is a candidate for a master's
degree in accounting. To receive the scholarship, Tamika is required to work as a teaching assistant. She receives $4,000
for the teaching assistant services. The remainder of the scholarship is split $5,000 for tuition and books and $1,900 for
room and board. What amount must Tamika include in her taxable income?
A. $5,900
B. $4,000
C. $1,900
D. $10,900
 Tamika received a $10,900 scholarship for the fall semester at Peanut

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!