Essay
Indicate whether each item below would be included in or excluded from the income of the recipient.
a.Payment for laboratory assistant position at University of California State
b.A $1,000 scholarship for tuition
c.College books paid for by grandma and grandpa
d.A $1,000 college loan
e.A scholarship for room and board
f.A new car given to recruit a basketball player
g.A scholarship used for supplies and equipment that are required for courses
Correct Answer:

Verified
a. Included
b. Exclu...View Answer
Unlock this answer now
Get Access to more Verified Answers free of charge
Correct Answer:
Verified
b. Exclu...
View Answer
Unlock this answer now
Get Access to more Verified Answers free of charge
Q12: The value of lodging provided to a
Q35: Van is sick and tired of his
Q40: Which of the following gifts or prizes
Q79: Elsie received the following distributions from Virginiana
Q95: To pay for college, Henry received the
Q98: If an annuitant,whose annuity starting date was
Q102: If an employer claims a business deduction
Q104: If a life insurance policy is transferred
Q119: Which of the following is not taxable
Q141: During the current year, Margaret and John