Manish is a student who began working part-time as a restaurant waiter in October of 2017. He
Question:
Manish is a student who began working part-time as a restaurant waiter in October of 2017. He earned the following tips in 2017, with each month’s tips reported in a schedule submitted to the restaurant’s management by the tenth of the following month:
October ........................... $400
November......................... 215
December ......................... 150
In addition, Manish received a scholarship in 2017 which provided $5,000 for tuition, $5,000 for room and board, $1,000 for travel to study abroad, and $1,000 for books.
What total amount from the above should be included in Manish’s 2017 gross income?
a. $5,765
b. $5,615
c. $6,615
d. $6,765
Step by Step Answer:
South-Western Federal Taxation 2018 Comprehensive
ISBN: 9781337386005
41st Edition
Authors: David M. Maloney, William H. Hoffman, Jr., William A. Raabe, James C. Young