How much of the scholarship is excluded from taxable income

Reference no: EM131928518

Problem

Nicole is a student at USB Law School; she receives a $52,000 scholarship for 2016. Of the $52,000, $40,000 is used for tuition, $5,000 is used for books, and $7,000 is used for room and board. How much of the scholarship is excluded from taxable income for Nicole in 2016?

Reference no: EM131928518

Questions Cloud

What was joes investment return : He purchased 3,000 shares at 18.00 pesos per share. Twelve months? later, he sold them at 22.00 pesos per share. He received no dividends during that time.

Prorate the amount calculated in based on the ending balance : Prorate the amount calculated in (a) based on the ending balances (before prorating) of Work in Process, Finished Goods, and Cost of Goods Sold.

Determine the projected net after-tax cash flows : The Newport Company is planning to expand its current spindle product line. Determine the projected net after-tax cash flows from this investment.

What would boeings growth rate have to be in perpetuity : Boeing has an equity beta of 0.92 and a D/E ratio of .10. Assume a cost of debt of 4%, a risk free rate of 2%, and an equity risk premium of 6%

How much of the scholarship is excluded from taxable income : Nicole is a student at USB Law School; she receives a $52,000 scholarship. How much of the scholarship is excluded from taxable income for Nicole in 2016?

Recalculate the future value at 6 percent interest : Explain whether you would you rather have a savings account that paid interest compounded on a monthly basis or compounded on an annual basis? Why?

What is the minimum and maximum range of transfer price : What is the minimum and maximum range of transfer price? What would be the financial consequence to Young if the Newman Parts Division makes the webcam?

Who should you take their advice : You are interested in investing in a portfolio including stocks A, B, C and D. You have talked to three different financial strategists: Dan, Paul and Mary.

What is meant by zero-sum game : At what LIBOR rate does Home Depot Benefits from Swap? At was LIBOR rate does it lose from Swap?

User Account

All Pages