Lee, a candidate for a graduate degree, worked at the local golf course as a clubhouse employee and earned $15,000 in wages in 20X1. He also received the following scholarship awards from the university in 20X1: $20,000 for tuition, fees, books, and supplies required for courses $4,000 stipend for research services required by the scholarship What amount should Lee include as taxable income in 20X1? $39,000 $15,000 $19,000 $0

Lee, a candidate for a graduate degree, worked at the local golf course as a clubhouse employee and earned $15,000 in wages in 20X1. He also received the following scholarship awards from the university in 20X1: $20,000 for tuition, fees, books, and supplies required for courses $4,000 stipend for research services required by the scholarship What amount should Lee include as taxable income in 20X1? $39,000 $15,000 $19,000 $0

Individual Income Taxes

43rd Edition

ISBN:9780357109731

Author:Hoffman

Publisher:Hoffman

Chapter5: Gross Income: Exclusions

Section: Chapter Questions

Problem 1CPA

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