Tony touchdown is offered an athletic scholarship at state

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Reference no: EM13589894

Tony Touchdown is offered an athletic scholarship at State University which will pay fully for his tuition, fees, books, room and board. The scholarship also includes a new Mercedes. Although he is expected to play on the varsity football team, his participation and playing are not conditions of receiving the scholarship. What are the tax consequences if: a. He does play on the varsity team and his efforts lead State University to the league championship. b. He does play on the varsity team, but also engages in wild partying, drinking, and general debauchery so that his miserable performance leads the team to numerous defeats and the coach throws him off the team is mid-season. c. He enjoys his partying, drinking and general debauchery so much that he doesn't bother playing on the team at all.

Reference no: EM13589894

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