Hal was awarded a 15000 scholarship to attend state hotel

Reference no: EM13616343

For each of the following situations, indicate how much the taxpayer is required to include in gross income:

a.Steve was awarded a $5,000 scholarship to attend State Law School. The scholarship pays Steve's tuition and fees.

b.Hal was awarded a $15,000 scholarship to attend State Hotel School. All scholarship students must work 20 hours per week at the School residency during the term.

c.Bill was the recipient of an athletic scholarship that pays his $12,000 tuition to State University and provides him with a $500 per month stipend to pay for food and housing. The scholarship requires Bill to participate in athletic competition each term.

a. How much of scholarship is Steve required to include in his gross income?

Amount to be included:

b. What is the amount of scholarship Hal should include in his gross income?Amount to be included:

c. How much of scholarship and stipend (for 12 months) are to be included in Bill's gross income?

Amount of scholarship to be included:
Amount of stipend to be included:

Reference no: EM13616343

Questions Cloud

What is the acceleration of the rockets center of mass : a fireworks rocket is launched vertically into the night sky with an initial speed of 43.8 ms. the rocket coasts after

Wal-marts board discussed proposals to meet some of these : wal-marts board discussed proposals to meet some of these challenges at a board retreat in 2005. discuss these

A 75v- generator supplies 41kw of power how much current : question 1 what is the resistance of 5.8 mi of copper wire with a diameter of 0.53 mm?question 2 a 75v- generator

If a customer has not had an accidnet during the last year : payoff insurance company charges a customer according to his or her accident history. a customer who has had no

Hal was awarded a 15000 scholarship to attend state hotel : for each of the following situations indicate how much the taxpayer is required to include in gross incomea.steve was

When a potential difference of 20 v is applied to a given : question 1 a silver wire is 4.8 m long and 0.47 mm in diameter. what is its resistance?question 2 when a potential

What is the expected number of machines failures during the : 12 machines are planned to be used for a 60-day production run. the actual operating time is 1440 hours. upon failure a

When we look at the null hypothesis and the alternative : when we look at the null hypothesis and the alternative hypothesis represent two contradictory statements. they are

Sppose that x1 x2 x3 x4 and x5 is a random sample from a : suppose that x1 x2 x3 x4 and x5 is a random sample from a distribution with density function fx1theta for 0ltxlttheta.

User Account

All Pages